Inventor and assignee: Are they same?
In the world of patents, you, the inventor, are the one who brings the idea to life. But the inventor and the assignee, the legal owner of the patent, are not always the same. This distinction can be confusing, especially for first-time inventors and small business owners. Let us break down the difference and how it might apply to you.
The assignee, on the other hand, is the entity that holds the legal rights to the patent. This could be you, the inventor, but more often than not, it is the company you work for, an investor, or someone you have licensed the invention to. This usually entails an assignment of rights, transferring ownership from the inventor to the assignee.
Here's why the inventor and assignee might not be the same:
- Employment Agreements: Many employment agreements stipulate that any inventions created by employees while on the job belong to the company. In this case, you'd be the inventor, but your employer becomes the assignee upon filing the patent.
- Independent Inventors Seeking Funding: If you're an independent inventor seeking funding, you might assign the patent rights to an investor in exchange for financial backing to develop and commercialize your invention.
- Joint Ventures and Collaborations: For inventions arising from collaborations or joint ventures, the assignee could be a separate entity formed by the collaborating parties.