Discuss transfer of Patent Rights in the form of Assignment.

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Discuss transfer of Patent Rights in the form of Assignment.
SOLUTION:

Assignment:

Assignment, as defined in Black's Law Dictionary, means the transfer by a party of all of its rights or interest in the property.
In case of intangible property like a patent, the transfer is made through an agreement to this effect.

Assignment Vs. License:

The difference between Assignment and License:

A License merely confers a personal privilege to do some particular act(s) which the licensee can perform. There is no transfer of interest in license.
On the contrary, assignment means the transfer of interest in the patent: whole or in part of the patent rights, e.g., for the whole of India or a part thereof.

Assignee:

The person in whose favor a right has been assigned is the assignee and the person who assigns the right (patentee himself or his agent) is the assignor.
In case an assignment has been made in favor of a person who has since died, the term assignee would denote the legal representative that is the person who in law represents the estate of the deceased person.
Where assignment is made in favor of two or more persons, they become owners of such interest in the patent.