Frequently asked questions
What is the purpose of the IP confirmation letter?
IP confirmation letter is concluded in the event where the person’s work for the company results in some kind of intellectual property (invention, computer code etc) and it is in the interests of the company to be the owner of these intellectual property rights. This is the case especially for the companies whose business depends on the intellectual property, e.g. start-ups whose only / main assets are computer codes. IP confirmation letter prevents possible arguments over the ownership of the intellectual property.
Whom should the IP be assigned if the company is not yet founded?
Before the company is founded, the intellectual property belongs to the founders individually or collectively, e.g. according to the contract of partnership. But in case where the company to be founded depends on the intellectual property, it is strongly advised to assign the IP to the company. It is definitely not advised to transfer or license all of the IP rights to only one founder, especially if the company is not yet founded, due to the fact that this can be easily taken advantage of.
What kind of IP is assigned or licensed under this document?
By signing this confirmation letter the person assigns all kinds of intellectual property whether developed by the person solely or jointly within the scope of company’s business using the company’s resources, including but not limiting inventions, computer codes, designs etc.