Assignment of Interest in Patent - One Co-Owner to Another

Inventors usually file a patent application to protect their rights in an invention. In some instances, more than one person is considered the inventor and both parties co-own the patent. This Assignment of Interest in Patent is for use by one co-owner to transfer his interests to the other co-owner. This assignment sets out the specific terms of the assignment including a brief description of the patented invention and the consideration one co-owner will pay to the other for full ownership of the patent. (continued ...)