Technology Assignment Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Technology Assignment Agreement

"I need a Technology Assignment Agreement for transferring proprietary AI software technology from my Hong Kong-based startup to a multinational tech company, including source code and associated patents, with completion planned for March 2025."

Document background

The Technology Assignment Agreement is a crucial document used in Hong Kong's dynamic technology sector for transferring ownership of technological assets and intellectual property rights. It is commonly required in various scenarios including company acquisitions, technology commercialization, corporate restructuring, and research institution spin-offs. The agreement, governed by Hong Kong law, ensures compliance with local intellectual property regulations while providing a clear framework for transferring patents, copyrights, trade secrets, and associated know-how. It's particularly relevant given Hong Kong's position as a major technology hub and its robust legal framework for intellectual property protection. The document typically includes detailed descriptions of the technology being transferred, warranties about ownership and non-infringement, and provisions for post-transfer support and confidentiality.

Suggested Sections

1. Parties: Identifies and defines the assignor and assignee with full legal names and addresses

2. Background: Explains the context of the assignment, ownership of the technology, and purpose of the transfer

3. Definitions: Defines key terms including 'Technology', 'Intellectual Property Rights', 'Effective Date', and other relevant terms

4. Assignment: Core provision transferring ownership of the technology and associated rights from assignor to assignee

5. Consideration: Specifies the payment or other consideration for the assignment

6. Representations and Warranties: Assignor's warranties regarding ownership, right to assign, non-infringement, and technology functionality

7. Further Assurance: Obligation to execute additional documents and take necessary steps to perfect the assignment

8. Confidentiality: Obligations regarding confidential information disclosed during the transaction

9. Governing Law and Jurisdiction: Specifies Hong Kong law and jurisdiction for dispute resolution

10. General Provisions: Standard boilerplate clauses including notices, entire agreement, and severability

Optional Sections

1. Tax Provisions: Include when there are specific tax implications or arrangements for the assignment

2. Employee Rights: Include when the technology was developed by employees and their rights need to be addressed

3. Third Party Rights: Include when the technology incorporates or depends on third-party components

4. Transition Services: Include when the assignor needs to provide support or training post-assignment

5. Non-Competition: Include when restricting assignor's future competing activities is necessary

6. Regulatory Compliance: Include when the technology is subject to specific regulatory requirements

7. Source Code Escrow: Include for software assignments requiring source code protection

8. Data Protection: Include when the technology involves personal data processing

Suggested Schedules

1. Schedule 1 - Technology Description: Detailed technical description of the assigned technology, including specifications and documentation

2. Schedule 2 - Intellectual Property Rights: List of all IP rights being assigned (patents, copyright registrations, trademarks, etc.)

3. Schedule 3 - Payment Terms: Detailed payment schedule, including any milestone payments or earnouts

4. Schedule 4 - Third Party Licenses: List of third-party licenses associated with the technology

5. Schedule 5 - Technical Documentation: List of all technical documents, manuals, and materials included in the assignment

6. Appendix A - Form of Assignment Notice: Template for formal notices of assignment for IP registries

7. Appendix B - Transition Plan: Details of any transition support or knowledge transfer process

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Information Technology

Software Development

Biotechnology

Financial Technology

Healthcare Technology

Artificial Intelligence

Telecommunications

Manufacturing

Research and Development

Electronics

Clean Technology

Education Technology

Industrial Automation

Digital Media

Cybersecurity

Relevant Teams

Legal

Intellectual Property

Research and Development

Engineering

Innovation

Corporate Development

Mergers and Acquisitions

Technology Transfer

Commercial

Compliance

Relevant Roles

Chief Technology Officer

Chief Legal Officer

Intellectual Property Counsel

Legal Counsel

Technology Transfer Manager

Research Director

Innovation Manager

Patent Attorney

Licensing Manager

Corporate Lawyer

Due Diligence Specialist

Chief Executive Officer

Research and Development Director

Head of Engineering

Chief Innovation Officer

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Let's create your Technology Assignment Agreement

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