Video Transcript
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hey Jerry schust here with Innovation Cafe and today I want to talk with you about patent assignments yeah I know patent assignments possibly one of the more boring areas of one of the more boring areas of law but they’re really important so it turns out that if you use the wrong magic language when you’re trying to acquire a patent you might not get the patent so typically it works like this if I write a contract that says I agree that I will assign my patent rights to you the patent rights aren’t assigned you actually have to get them to do it afterwards and if you forget to do it before the statute of limitations runs out they’re going to own the patent not you so it has to be active language I shall and hereby do now talk to your lawyer before doing it don’t rely on this this is not legal advice this is practical advice but you definitely want to make sure that the language at any patent assignment is Rock Solid because one little error is very expensive