THIS
ASSIGNMENT is made on the 16th Day of October 2020 BETWEEN Mr. X, Age – 51 years, residing at 43/2 Poder
Gali, Cooh Vihar Colony, Ahmedabad (hereinafter called as ‘the Patentee’) of
the one part AND ABC COMPANY, INCORPORATED UNDER COMPANIES ACT 2013, having a
place of business and Head Office at, A-3** ,RIICO Industries Area, Ahmedabad
(hereinafter called as ‘the Assignee’) of the other part.
WHEREAS the Patentee
is the original inventor of an invention titled “Musical Pizza Box”, which
means A Pizza Box that plays music while opening it, under the Patent No.
US8720690B2** dated 11 May 2019.
AND WHEREAS the Patentee has
agreed with the Assignee for the sale to him of the aforementioned patent and
all improvements thereon or further inventions connected therewith for a sum of
Rs. 5,00,00,000/- (rupees five crore only).
NOW
THIS DEED WITNESS as follows:
1. In
pursuance of the aforesaid agreement and in consideration of Rs. 5,00,00,000/-
(Rupees five crore only) paid by the Assignee, the Patentee hereby assigns and
transfers to the Assignee all that the said invention and the said patents for
the same with the full and exclusive benefit and advantage thereof and of all
and every improvement, extension, renewal thereof to hold the same to the
assignee absolutely.
2. The
Patentee hereby covenants with the assignee as follows:
a) That
the said patent is subsisting and is not void or voidable;
b) That
the Patentee shall, whenever required, give to the assignee such assistance and
information respecting the said invention and mode of working and using the
same and all processes connected therewith as may be necessary for enabling him
to use and exercise the said invention to the best of advantage;
c) That
he will at the expense of the assignee do all such acts and things as may be
reasonably required by the assignee for enabling him to obtain and enjoy the
exclusive benefit of any extension or further grant of the patents for the time
being vested in the assignee by virtue of these patent;
d) The
parties hereto hereby agree that wherever the context so admits the expressions
“the Patentee” and “the Assignee” hereinafter used shall include their
respective successors and assignees.
IN
WITNESS WHEREOF
Sd/
Sd/
S.
Toy Mr. X
Witness
No. 1
Patentee
Sd/ Sd/
V. Mallya ABC
Company
Witness No. 2
Assignee
Place: Ahmedabad
Date: 16th Day of October
2020
Also read: Format for Bail Application
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