The Proprietary Rights Agreement is a crucial legal instrument used in New Zealand business contexts where intellectual property rights and confidential information need to be formally transferred or protected. This document is particularly relevant when companies acquire intellectual property from inventors, employees, or contractors, or when businesses need to establish clear ownership of intellectual assets. The agreement complies with New Zealand intellectual property laws, including the Patents Act 2013, Copyright Act 1994, and Trade Marks Act 2002, and provides comprehensive coverage of various types of intellectual property rights. It includes essential provisions for assignment of rights, confidentiality obligations, warranties, and enforcement mechanisms, making it suitable for both straightforward transfers and complex intellectual property transactions.
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1. Parties: Identification of all parties to the agreement, including their legal status and contact details
2. Background: Context of the agreement, relationship between parties, and purpose of the arrangement
3. Definitions and Interpretation: Detailed definitions of key terms including Intellectual Property Rights, Confidential Information, and Proprietary Rights
4. Assignment and Ownership: Clear provisions regarding the transfer and ownership of intellectual property rights and other proprietary information
5. Scope of Rights: Detailed description of what rights are being transferred or assigned, including present and future rights
6. Confidentiality Obligations: Provisions regarding the protection and non-disclosure of confidential information
7. Warranties and Representations: Statements and guarantees about ownership, right to transfer, and non-infringement
8. Protection and Enforcement: Obligations regarding the protection and enforcement of proprietary rights
9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
10. General Provisions: Standard clauses including governing law, dispute resolution, and entire agreement
1. Moral Rights: Section dealing with waiver or assertion of moral rights, particularly relevant for copyright works
2. License Back Provisions: Optional section where the assignee grants back certain usage rights to the assignor
3. Development and Improvements: Provisions regarding future developments or improvements to the proprietary rights, used when ongoing development is expected
4. Competition Restrictions: Non-compete and non-solicitation provisions, included when necessary to protect business interests
5. Technology Transfer: Specific provisions for transferring technical knowledge and know-how, relevant for technical IP
6. Third Party Rights: Provisions dealing with third party intellectual property rights and licenses
7. Insurance and Indemnity: Additional protection provisions requiring insurance coverage or specific indemnities
1. Schedule 1 - Existing Intellectual Property: Detailed list and description of all existing intellectual property being transferred
2. Schedule 2 - Registered Rights: List of all registered intellectual property rights including patents, trademarks, and designs
3. Schedule 3 - Assignment Forms: Forms and documents required for formal assignment of specific intellectual property rights
4. Schedule 4 - Excluded Rights: List of any intellectual property rights specifically excluded from the agreement
5. Appendix A - Technical Documentation: Technical specifications and documentation related to the proprietary rights
6. Appendix B - Prior Agreements: List of any relevant prior agreements or licenses affecting the proprietary rights
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