Intellectual Property Agreement Law & Legal Definition


Intellectual property agreement means a contract executed between or among collaborating institutions for the purchase and sale of intellectual property rights. It sets forth the rights and responsibilities of each institution concerning intellectual property that may be created during the term of the collaboration. It also discusses on the rights associated with intellectual property that is created jointly by the collaborating researchers as well as intellectual property created independently by each. It is also called as IP agreement, intellectual property transfer agreement or intellectual property assignment agreement.