Once a patent issues, it is the responsibility of the patent owner to manage the patent. Successful patent management may involve using, licensing or assigning the patent. It may also involve conducting foreign registrations as well as conducting litigation to pursue infringers. Making Money with A Patent Assignment A patent assignment is a transfer of an inventor's rights to an invention to an assignee for some type of consideration. An inventor may assign U.S. patent rights apart from any foreign patent rights in the invention.
Assignments are contracts.
Since the rights afforded by patent law are the rights to make, use or sell an invention, an assignment must be the sale of all of those rights. If all of the rights to a patent are not transferred, then it is considered to be a license and not an assignment. Assignments must be recorded with the United States Patent and Trademark Office. Return to patent main page. License A license is the right to make, use or sell an invention without being sued by the patent owner.