When you first start building your business, there can be a number of people working on your products and other intellectual property, such as your website, logo and designs. These might be co-founders, team members, advisors, freelancers or contractors, or even friends and family.
Even if they’re creating work that’s clearly for you or your business, it doesn’t belong to you unless the ownership has been properly and formally transferred to you in writing. When you create an IP Assignment Agreement with SeedLegals, it ensures that any work others do for you, even if it was before your company was officially incorporated, belongs solely to your company.
An IP Assignment Agreement shows a clear intention to transfer the rights to you and can help you avoid potential disputes in the future. Without this agreement, or if the IP rights aren’t assigned correctly, you could end up in an expensive legal mess, and that could make your company a worrying prospect for investors.