Weagree model clause on managing joint inventions, co-owned by two or more parties under a (joint) development agreement, organising registration, discontinuation and related covenants
Although a joint ownership of patents or jointly developed IP is not recommended (and dispute-prone), this model clause provides for the key aspects of jointly developing IP (inventions to be patented). The arrangement starts with the (common) leading principle that a party who invents or creates IP pursuant to the joint development project will be the sole owner of such (foreground) IP. Also any Background IP will not by operation of newly created IP become part of that (foreground) IP. Where the parties jointly create IP, it is desirable to provide for an IP-ownership allocation or an arrangement on managing joint inventions.
After all, when an invention is patented, the patent application process may be laborious, costly and also the registration and continuation of any patent registration would be necessary. The model clause provides for a mechanism enabling each party to part ways with the other co-owners of the patent, and to manage joint inventions.
Note that also a possible infringement of IP rights (whether by the joint invention or by a third-party technology on the joint patent) requires attention. While this model clause provides for a very basic infringements-oriented clause, it is likely desirable to extend its scope according to the particularities of your joint development project (and possible inventions thereunder).