Invention Assignment Agreement

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Invention Assignment Agreement

Invention Assignment Agreement

{{company_name}}

{{company_address}}

Tel: {{phone}}

Email: {{email}}

Website: {{website}}

INVENTION ASSIGNMENT AGREEMENT

This Invention Assignment Agreement (hereinafter “Agreement”) is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

{{company_name}}, a company duly incorporated under the laws of [South Africa/ {{country}}], with its principal place of business at {{company_address}} (hereinafter “the Company”), and

{{employee_name}}, an individual residing at {{employee_address}}, holding identity number {{id_number}} (hereinafter “the Employee”).

WHEREAS, the Employee is employed by the Company in a capacity that may involve the creation, development, or discovery of Intellectual Property;

WHEREAS, the Company desires to ensure that all Intellectual Property developed by the Employee during the course of their employment belongs exclusively to the Company;

NOW, THEREFORE, in consideration of the Employee’s employment, compensation, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. DEFINITIONS

1.1 “Intellectual Property” means any and all inventions, discoveries, designs, works of authorship, improvements, processes, methods, formulas, techniques, trade secrets, confidential information, patents, copyrights, trademarks, mask works, and all other forms of intellectual property rights, whether or not patentable or registrable, developed, conceived, or reduced to practice by the Employee, either alone or with others, during the term of their employment with the Company, whether or not during working hours.

2. ASSIGNMENT OF INVENTIONS

2.1 The Employee hereby irrevocably assigns and transfers to the Company all right, title, and interest in and to all Intellectual Property created, conceived, developed, or reduced to practice by the Employee during the term of their employment with the Company.

2.2 This assignment includes, but is not limited to, all Intellectual Property that relates to the Company's business, anticipated research or development, or results from any work performed by the Employee for the Company.

3. DISCLOSURE OF INVENTIONS

3.1 The Employee agrees to promptly disclose in writing to the Company all Intellectual Property created, conceived, developed, or reduced to practice by the Employee during their employment.

3.2 The Employee further agrees to maintain accurate and current records of all such Intellectual Property, in a manner prescribed by the Company.

4. FURTHER ASSURANCES

4.1 The Employee agrees to execute any and all instruments and documents, and to take any and all other actions that the Company may deem necessary or desirable, to perfect, evidence, confirm, or record the Company’s ownership of the Intellectual Property assigned hereunder, both during and after the term of employment.

4.2 This includes, but is not limited to, assisting the Company in applying for, obtaining, maintaining, extending, and enforcing patents, copyrights, and other intellectual property rights in any and all countries.

5. EXCEPTIONS

5.1 The Employee attaches hereto as Schedule A a list of all existing Intellectual Property that the Employee owns or has an interest in as of the effective date of this Agreement, which the Employee desires to exclude from the scope of this Agreement. If no such schedule is attached, the Employee represents and warrants that there are no such exclusions.

5.2 The Employee agrees that they will not incorporate any Intellectual Property developed prior to their employment into the Company's products or services without the prior written consent of the Company.

6. CONFIDENTIALITY

6.1 The Employee acknowledges that during the course of their employment, they may have access to and develop confidential and proprietary information of the Company. The Employee agrees to maintain the strict confidentiality of all such information, both during and after their employment, and not to disclose or use such information for any purpose other than for the benefit of the Company.

7. GOVERNING LAW AND JURISDICTION

7.1 This Agreement shall be governed by and construed in accordance with the laws of [South Africa/ {{country}}], without regard to its conflict of laws principles.

7.2 Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of [South Africa/ {{country}}].

8. ENTIRE AGREEMENT

8.1 This Agreement constitutes the entire understanding and agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, discussions, and communications, whether oral or written.

8.2 No amendment or modification of this Agreement shall be valid unless in writing and signed by both parties.

SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Invention Assignment Agreement on the date first written above.

FOR THE COMPANY:

_____________________________

Name: {{company_signatory_name}}

Title: {{company_signatory_title}}

Date: {{signature_date}}

FOR THE EMPLOYEE:

_____________________________

Name: {{employee_name}}

Date: {{signature_date}}