Who Owns What: Patent Assignment And Ownership

Why does patent ownership matter?

A patent is a government-granted property right that can be used to exclude others from making, using or selling an invention for a specified time (how long depends on the type of patent). Patents can provide important commercial benefits (discussed in detail in our companion piece What You Need To Know About Patents) — but only for patent owners.

So who owns a patent?

In the US, the inventor is presumed to be the initial owner of a patent or patent application. If there is more than one inventor, there may be more than one owner. Ownership can be transferred or reassigned. If your company values intellectual property and has employees that are encouraged to innovate, here are a few smart strategies to ensure that your company can benefit from patents generated through employee inventions.