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   Multiple assignees, % not specified - default?
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JimIvey
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Re: Multiple assignees, % not specified - default?
« Reply #5 on: Jun 21st, 2005, 2:55pm »
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FWIW, I think the best organization for patent ownership is a corporation.  You can allocate shares to funnel the proper shares of royalties/profit in just about any way you like, and the shares can be readily reallocated, transferred, whatever.  
 
The problems with partnerships and shared ownership of patents have been described well here.  What most people care about is not the shared ownership but the shared profits.  Another concern might be exactly who has authority to negotiate and enter into a license agreement.  That issue is also easily solved in a corporation (officers generally have authority to bind the corporation in contracts).
 
My informal observations would be that, even for simple innovations and very small numbers of people (even just one person who might later accept money from investors), a corporation is the thing that really ought to own a patent.  Corporations have well-known solutions for most of the who-gets-what problems involved with patents.
 
Regards.
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James D. Ivey
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JSonnabend
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Re: Multiple assignees, % not specified - default?
« Reply #6 on: Jun 22nd, 2005, 1:57pm »
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Quote:
FWIW, I think the best organization for patent ownership is a corporation.  You can allocate shares to funnel the proper shares of royalties/profit in just about any way you like, and the shares can be readily reallocated, transferred, whatever.  

Or better still, in many instances, an LLC.
 
- Jeff
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SonnabendLaw
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Isaac
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Re: Multiple assignees, % not specified - default?
« Reply #7 on: Jun 22nd, 2005, 8:12pm »
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Jim and Jeff's advice to pick an appropriate business entity
to own the patent is excellent.  I agree with Jim that a corporation
has the best default arrangment for assigning patent rights,
but there may be business issues that suggest forming some other
entity.  In the case of some of the other entities, it may be
necessary to have a written agreement of how the patent rights
will be exploited and accessed during the life of the entity
and even beyond.  In particular, some of the limited liability
entities act much like partnerships with all of the attendant
issues.  Some states may have funky rules concerning which
entities can and cannot sue, and in some states laws
governing incorporation are either not as friendly or not as
well developed as in others.
 
I suppose that's enough rambling on about a subject I haven't
dealt with since law school...
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Isaac
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