Confidential Information And Invention Assignment Agreement Template for New Zealand

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Key Requirements PROMPT example:

Confidential Information And Invention Assignment Agreement

"I need a Confidential Information And Invention Assignment Agreement for our Auckland-based software company that specifically covers AI-generated code and machine learning algorithms, as we'll be hiring 20 new developers who will be working on our proprietary AI platform starting March 2025."

Document background
The Confidential Information And Invention Assignment Agreement is a crucial document used when engaging employees, contractors, or consultants who will have access to sensitive information or may create intellectual property during their engagement. This agreement, governed by New Zealand law, serves two primary purposes: protecting the company's confidential information and ensuring that any inventions or intellectual property created during the engagement period are properly assigned to the company. It's particularly important in today's knowledge-based economy where intellectual property and confidential information are vital business assets. The agreement should be implemented at the start of any employment or engagement relationship where the individual will have access to proprietary information or will be involved in creative or innovative work. It ensures compliance with New Zealand's intellectual property laws while providing clear guidelines for both parties regarding their rights and obligations.
Suggested Sections

1. Parties: Identifies the company and the individual (employee/contractor) entering into the agreement

2. Background: Explains the context of the agreement, including the relationship between the parties and the need to protect confidential information and intellectual property

3. Definitions: Defines key terms including 'Confidential Information', 'Intellectual Property', 'Inventions', and 'Prior Inventions'

4. Confidentiality Obligations: Details the obligations to maintain confidentiality, including use restrictions and security measures

5. Intellectual Property Assignment: Assigns all work-related inventions and intellectual property to the company

6. Disclosure of Inventions: Requirements for promptly disclosing any inventions or improvements to the company

7. Assistance with IP Protection: Obligation to assist with patent applications and IP protection measures

8. Return of Materials: Requirements for returning all confidential materials upon termination

9. Duration and Survival: Specifies how long obligations last and which provisions survive termination

10. General Provisions: Standard clauses including governing law, entire agreement, and amendments

Optional Sections

1. Third Party Information: Used when the employee may have access to confidential information of company clients or partners

2. Non-Competition: Include when requiring post-employment competitive restrictions (must be reasonable and justified)

3. Non-Solicitation: Include when preventing solicitation of employees or customers is necessary

4. Garden Leave: Include for senior employees who may be placed on paid leave during notice periods

5. Moral Rights Waiver: Include when dealing with copyright works where moral rights might be relevant

6. International Rights: Include when IP protection in multiple jurisdictions is needed

7. Open Source Software: Include for technology companies dealing with open source software

8. Privacy Obligations: Include detailed privacy obligations when handling personal information is part of the role

Suggested Schedules

1. Schedule 1 - Prior Inventions: List of pre-existing inventions excluded from assignment

2. Schedule 2 - Excluded Information: List of information specifically excluded from confidentiality obligations

3. Schedule 3 - Approved Activities: List of external activities or commitments approved by the company

4. Appendix A - Security Procedures: Detailed security procedures for handling confidential information

5. Appendix B - IP Assignment Forms: Standard forms for documenting specific IP assignments

6. Appendix C - Acknowledgment Form: Form for acknowledging receipt and understanding of the agreement

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

Relevant legal definitions
Relevant Industries

Technology

Research & Development

Biotechnology

Financial Services

Professional Services

Manufacturing

Healthcare

Software Development

Media & Entertainment

Telecommunications

Aerospace & Defense

Pharmaceutical

Engineering

Creative Industries

Relevant Teams

Research & Development

Engineering

Product Development

Innovation

Design

Technical Operations

Information Technology

Data Science

Laboratory Operations

Artificial Intelligence

Software Development

Industrial Design

Intellectual Property

Scientific Research

Creative Services

Relevant Roles

Software Developer

Research Scientist

Product Manager

Chief Technology Officer

Design Engineer

Data Scientist

Research & Development Engineer

Technical Architect

Systems Engineer

Innovation Manager

Laboratory Technician

Industrial Designer

UX Designer

Biotechnology Researcher

Project Manager

Technical Consultant

Chief Innovation Officer

Patent Engineer

Algorithm Developer

AI Specialist

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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