It is desirable to avoid common intellectual property rights. Jointly developed intellectual property rights may be defined as intellectual property rights developed jointly by the two or more parties, where the list of inventors includes collaborators of both parties and the parties share the costs and risks of research and development activities and their results. However, jointly held intellectual property rights may be defined as two or more parties that have common ownership and joint control of the same intellectual property rights or patents. This may mean that a joint decision by all parties is required for virtually one or all assignments of intellectual property rights. This may mean that all exploitation rights must be dealt with by contract, for example.B. with the written agreement of one party for the other party to assert its rights, possibly with some restrictions on sublicense and/or licensing of rights and the obligation to share the revenues of the license. A copyright gives its owner the right to prevent others from copying a protected work. Copyright depends first of all on the circumstances of the creation of the works. An employer owns the copyright when the work is made by workers in the course of their work. When a work is made by a contractor as an „interim“ (and the work is one of eight specific categories), the rights are due to the tenant. If a particular rule of ownership does not apply and there is no other agreement, the work is the property of its author. The most important thing is to recognize that there are several intellectual property protection regimes.
The situation with co-ownership becomes even more complicated when several forms of intellectual property are involved, each with different standard rules. For example, co-owners of a U.S. copyright must share royalties, contrary to the U.S. patent rule. Almost all useful products are protected by several forms of intellectual property such as patents, designs, trademarks and copyrights. Such complexity arises, for example, when a software product protected by both patent and copyright is licensed by a co-owner. Co-owners should determine what percentage of the software product is excluded from licensing under U.S. patent law and what percentage of the license is subject to U.S. copyright. Intellectual property confers on its owner certain exclusive rights and can constitute a substantial part of a company`s assets. Intellectual property can be sold, licensed to third parties, sued against an infringer, and even used as collateral to secure a loan.
All these rights can bring added value to the company. While it is legal for the intellectual property of more than one entity to be jointly owned and it appears that this is sometimes a simple and inexpensive solution for cooperation, common ownership of intellectual property can pose significant problems and should, to the extent possible, be avoided. Joint development agreements usually have a limited lifespan. Therefore, an agreement should constitute in advance the conditions of the Intellectual Property Ordinance elaborated by the cooperation in order to ensure as smooth a transition as possible for all parties. Common intellectual property rights face challenges at each stage of the patenting process and different business requirements lead to different patent coverage requirements. The development, filing and monitoring of a patent therefore becomes complicated and costly and the end result may not be optimal for some or all parties involved. Licensing common patents dilutes the value for both owners when a license from both owners is available. There is no effective way to grant an obligation not to bring or assert an appeal. The assignment of common intellectual property rights also poses challenges. The value is diluted because only the owner`s share can be transferred, not all rights….