When you enter into a new job, you will likely be required to sign an employment agreement. Within that agreement, you may find a clause known as “assignment of inventions.”
This clause is designed to protect the company you work for by ensuring that any valuable intellectual property you create while working there is owned by the company, not you. The clause is also intended to give the company the exclusive rights to any inventions or discoveries that you make during your time of employment.
As a professional, it is essential to understand the importance of this clause and what it means for your career. Here`s what you need to know:
What is an assignment of inventions clause?
An assignment of inventions clause is a legally binding agreement between you and your employer that states any intellectual property you create while working for the company is owned by the company.
This clause ensures that the company has the exclusive rights to any inventions, discoveries, or ideas that you generate while working for them. It also outlines the procedures you must follow if you wish to patent or license any of your work while you are still employed by the company.
What type of intellectual property does the assignment of inventions clause cover?
The assignment of inventions clause covers any intellectual property you create during your employment. This includes but is not limited to:
1. Inventions, discoveries, and any new technologies
2. Designs, processes, and any new applications
3. Trademarks, trade secrets, and any new branding opportunities
4. Copyrights, patents, and any new product ideas
What should you do if you have a side hustle or a side project?
If you have a side hustle or a side project, it is essential to disclose this to your employer. You should also make sure that the work you are doing does not interfere with your primary job duties.
If you are creating anything that could potentially compete with your employer`s business, you should discuss it with your employer and make sure they are aware of your project.
What are the consequences of violating the assignment of inventions clause?
If you violate the assignment of inventions clause, your employer can sue you for damages. They may also take legal action to stop you from using any of their intellectual property that you are using without their permission.
If you are found to be in violation of this clause, you could lose your job, your reputation, and may face legal consequences.
Final thoughts
As a professional, understanding the importance of the assignment of inventions clause is crucial. It ensures that companies can protect their intellectual property and maintain their competitive advantage.
Make sure you read and understand your employment agreement before signing it, and don`t be afraid to ask questions if something is unclear. Disclose any side projects or side hustles you may have, and ensure that you are not violating this clause. By following these simple steps, you can protect yourself and your employer from any potential legal issues.