Can an LLC hold a patent?

Can an LLC hold a patent?

When seeking to acquire a patent, the inventor may use a limited liability company (LLC) as owner of the patent. There are many opportunities that an LLC can provide to the inventor which may not exist for a single inventor working alone.

Can a company be an inventor on a patent?

However, inventorship is determined using a different set of standards — so don’t confuse the two. Company: A company can never be listed as an inventor; only its employees can be. But a company can be the owner of a patent… which leads us to the concept of ownership.

Can a patent have multiple inventors?

The inventorship rule is relatively clear when an invention was conceived by a solo inventor, but can become complex when more than one person is considered an inventor. In such cases, multiple inventors should be listed jointly on a patent.

Can an LLC own intellectual property?

The easiest way to protect the IP is to simply put it in a separate limited liability company (LLC) that has been properly structured. Then, the IP LLC can lease or license its intellectual property to the Opco (it is important that the license agreement and money exchange be real and done at arm’s length).

Can patent be transferred under law?

A patent is considered as a transferrable property that can be transferred from the original patentee to any other person by assignment or by operation of law. A patent can be licensed or assigned only by the owner of the patent.

Can you assign a patent?

A patent assignment is an agreement where one entity (the “assignor”) transfers all or part of their right, title and interest in a patent or application to another entity (the “assignee”). But under U.S. law, only an inventor or an assignee can own a patent — and businesses cannot be listed as an inventor.

How do I transfer intellectual property to an LLC?

The only way to transfer the IP to the company is for the founder to sign and deliver an assignment of intellectual property rights to the company. This could be done at the founding of the new company by having the founder transfer ownership of the IP in exchange for her initial equity in the company.

Can a company assign a patent to an inventor?

But under U.S. law, only an inventor or an assignee can own a patent — and businesses cannot be listed as an inventor. Accordingly, patent assignment is the legal mechanism that transfers ownership from the inventor to your business. PATENT ASSIGNMENT VS.

Should your business own its patents?

Ideally, your business should own its patents if it wants to enjoy the benefits of the patent rights. But under U.S. law, only an inventor or an assignee can own a patent — and businesses cannot be listed as an inventor. Accordingly, patent assignment is the legal mechanism that transfers ownership from the inventor to your business.

What is patent assignment and licensing?

Accordingly, patent assignment is the legal mechanism that transfers ownership from the inventor to your business. PATENT ASSIGNMENT VS. LICENSING It’s common to confuse the two concepts, but patent assignment is different from licensing.

What is individual ownership of a patent?

INDIVIDUAL AND JOINT OWNERSHIP Individual ownership – An individual entity may own the entire right, title and interest of the patent property. This occurs where there is only one inventor, and the inventor has not assigned the patent property.