What is Patent Assignment, and What are its Different Types?

Patent assignment refers to the transfer of ownership rights in a patent from the original owner (assignor) to another party (assignee). This transfer grants the assignee the authority to use, enforce, or monetize the patent rights. Once the assignment is complete, the assignee can take legal action against unauthorized use of the patented invention. There are three main types of patent assignments:

1. Legal Assignment
A legal assignment involves the complete transfer of patent ownership to the assignee through a formal agreement or deed. After the transfer, the assignee is officially recorded as the patent owner in government registers. This type of assignment provides the assignee with full rights to use, enforce, and benefit from the patent.

2. Equitable Assignment
In an equitable assignment, the assignor agrees to share specific rights or benefits of the patent with the assignee through an informal agreement, often documented via a letter or contract. However, the assignee does not gain full ownership or the ability to register their name as the patent owner. Instead, they can notify the patent office about their interest in the patent. This arrangement typically involves sharing profits or royalties but does not provide complete ownership rights.

3. Mortgage Assignment
A mortgage assignment allows the assignor to transfer partial or full rights of the patent to the assignee in exchange for financial consideration, such as a loan or lump sum payment. The rights are restored to the original owner once the debt is repaid. While the assignee’s name is noted in the patent register as a mortgagee, they do not hold full ownership of the patent during the agreement.