Fill and Sign the Joint Patent Form

Agreement between Joint Patent Holders with Title of one Holder Assigned to the other Holder with Right of Assignee to Sell or License Agreement made on the _______________ (date) , between ________________ (Name of Holder One) of _________________________________________________ ______________________ (street address, city, state, zip code) , referred to herein as Holder One , and ________________________ (Name of Holder Two) , of _______ _____________________________________________________________________ (street address, city, state, zip code) , referred to herein as Holder Two . Whereas, on ___________________ (date) , Letters of Patent of the United States for (subject matter of invention) ____________________________________ _____________________________________________________________________, Application No. _________, were issued to Holder One and Holder Two jointly; and Whereas, by an assignment dated _________________ (date) , a copy of which is attached, Holder One has sold, assigned and conveyed to Holder Two his entire joint right, title and interest in, to and under such Patent and the Invention described in such Letters of Patent and covered by the same, subject to the terms of this Agreement; and Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Right to Negotiate for Sale or License As record owner of the complete right, title and interest in, to and under the above-mentioned Letters of Patent and the Invention described in and covered by the Patent, Holder Two shall have the right to negotiate for a sale or license of the Letters Patent and Invention and the right to enter into a suitable agreement or agreements with respect to the same in Holder Two’s sole discretion. 2. Division of Receipts from Sale of License All receipts derived from any sale or license of the above-mentioned Invention entered into by Holder Two shall be divided and distributed as follows: (description of division and distribution of receipts) ______________________________________ _____________________________________________________________________. 3. Counterparts For the convenience of the parties, this Agreement has been executed in several counterparts, which are in all respects similar and each of which shall be deemed to be complete in itself so that any one may be introduced in evidence or used for any other purpose without the production of the other counterparts. Immediately following endorsement of the consenting parties, counterparts will be furnished to the consenting parties so that each may be advised of the rights, privileges, and benefits that this Agreement confers. 4. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 5. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ______________. 6. Notices Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 7 . Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 8. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. WITNESS our signatures as of the day and date first above stated. ________________________ _________________________ (P rinted name) (P rinted name) ________________________ _________________________ (Signature of Holder One) (Signature of Holder Two) (Acknowledgment form may vary by state) Attach copy of Assignment