Co-Ownership Agreement for Intellectual Property

Agreement for co-ownership of intellectual property, between an inventor and a developer who will be responsible for ongoing improvements, and for developing training documentation. Under the terms of the agreement, the inventor transfers a half interest in the property to the developer. Provisions include: revenues to be joint property of the co-owners, license fees to be assessed when the technology is used by third parties, relationship between the parties is not to be construed as a partnership, procedure for one co-owner to buy out the other in order to terminate the relationship. This is a generic legal document in MS Word format, and is not specific to any country or region.