What is an Assignment?
An assignment is a written instrument through which a patent can be transferred, sold, mortgaged etc. as any other personal property. The assignee, when the patent is assigned to him or her, becomes the owner of the patent and has the same rights that the original patentee had. An assignment, grant, or conveyance of any patent or application for patent should be acknowledged before a notary public or officer authorized to administer oaths or perform notaries’ acts.
Applications for patent, patents, or any interest therein, shall be assignable in law by an instrument in writing. An assignment is a certificate of acknowledgment under the hand and official seal of a person authorized to administer oaths within the United States, or, in a foreign country, of a diplomatic or consular officer of the United States or an officer authorized to administer oaths whose authority is proved by a certificate of a diplomatic or consular officer of the United States, or apostille of an official designated by a foreign country which, by treaty or convention, accords like effect to apostilles of designated officials in the United States. This certificate shall be prima facie evidence of the execution of an assignment, grant, or conveyance of a patent or application for patent.
Assignment means that in the event of fatal accident of the insured person, the compensation is made to the assignee on the basis of his full and final discharge. In case the assignment is not made under Personal Accident Policy, the insurance company insist for SUCESSION CERTIFICATE from the Court for settlement of claim compensation, which is a time consuming, lengthy & cumbersome procedure.
