IP Assignment Agreement

IP ASSIGNMENT AGREEMENT

This Agreement is made on [Date] between [Assignor] and [Assignee]

1. Parties. This IP Assignment Agreement is executed between [Assignor], [Address] (the "Assignor") and [Assignee], [Address] (the "Assignee").
2. Recitals. The Assignor owns the intellectual property described herein and has agreed to assign the same to the Assignee for consideration.
3. Assigned IP & Consideration. The Assignor assigns to the Assignee all right, title and interest in [Description of IP - copyright/trademark/patent/design/know-how] for a consideration of Rs. [Amount], effective [Effective Date].
4. Scope of Assignment. The assignment is absolute, worldwide, perpetual and irrevocable, including all extensions, renewals and the right to sue for past infringement.
5. Obligations & Further Assurance. The Assignor shall execute all documents and do all acts necessary to record the assignment before the relevant IP registries.
6. Moral Rights. To the extent permissible under the Copyright Act, 1957, the Assignor waives moral rights in favour of the Assignee.
7. Representations & Warranties. The Assignor warrants that it is the sole owner of the IP, that it is free from encumbrance, and that its use does not infringe third-party rights.
8. Confidentiality. The Assignor shall keep confidential and shall not use the assigned know-how and the terms hereof after the Effective Date.
9. Indemnity. The Assignor shall indemnify the Assignee against claims arising from any defect in title or third-party infringement.
10. No Retained Rights. The Assignor retains no right to use, license or exploit the assigned IP after completion.
11. Term & Termination. This assignment is a one-time transfer; upon receipt of consideration it is complete and cannot be revoked.
12. Governing Law & Jurisdiction. This Agreement is governed by the laws of India and subject to the jurisdiction of courts at [City].
13. Dispute Resolution. Disputes shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, seated at [City].

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