Re: IP transfer question

I read in sci.electronics.design that Walter Harley <walterh@xxxxxxxxxxxxxxxxxxxx> wrote (in <m42dncjN5YBIH9LfRVn-rw@xxxxxxxxxxxxx>) about 'IP transfer question', on Sat, 2 Apr 2005:

That opportunity has arisen, and I am trying to pursue it. I am happy to pay him a fair royalty. However, I want to be fair to both of us; and so I want to write a contract that deprives neither of us of our due. He should be entitled to royalties on his design; I should be entitled to ownership of my own designs, and to my improvements on his design.

Write in your contract that his rights (carefully enumerated and described in excruciating detail in a schedule to the contract) expire after n years (n to be agreed, maybe 5 or 10 depending on their nature) unless extended by agreement at that time. In the event of failure to agree, the matter shall be put to binding arbitration under an arbitrator appointed by an independent third party, such as the President of the IEEE.

You can vary this a bit to suit your particular case, without violating the principles. You should check that such terms in a contract are allowed by US law.
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Regards, John Woodgate, OOO - Own Opinions Only.
There are two sides to every question, except
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