Take Precautions to Ensure Proper Ownership By: Muhammad Zarif One of the most costly— yet easily prevented — disasters for any business is the failure to secure ownership of intellectual property (IP). Here are the details you need to know: Under the law, the ownership of copyrights and inventions may actually belong to your independent contractors and employees, unless there is a prior written agreement to the contrary. Copyright law and the laws of most countries mandate that employees and independent contractors who invent products, write materials and develop software may be the owners of the IP rights. In some states, an employer may only have a limited license in an invention that an employee creates while on the employer's time clock! Fortunately, you can easily prevent this type of catastrophe. Federal copyright laws permit employers to require their employees to sign copyright, IP and invention assignment agreements that give all IP rights to the company. Next >> |
