What are different kinds of Assignments?

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What are different kinds of Assignments?

SOLUTION:

Types of Assignment:

There can be 3 kinds of Assignments as listed below:

1. Legal Assignment
2. Equitable Assignment
3. Mortgage Assignment

1. Legal Assignment:

• An Assignment of an existing patent through an agreement which has been duly registered is a Legal Assignment.
• A Legal Assignee has the right to have his name entered in the Register of patents maintained in the Controller’s Office as proprietor of the patent and can thereafter exercise all the rights conferred on him by the proprietor of patent.

2. Equitable Assignment:

• Any document such as letter not being an agreement, which is duly registered with Controller in which patentee agrees to give another person certain defined right in the patent with immediate effect, is an Equitable Assignment.
• An Assignee in such a case cannot have his name entered in the Register as the proprietor of patent.
• He can only have a notice of his interest entered in the register.
• He can convert the Equitable Assignment to Legal Assignment by getting a written Agreement to this effect and having it Duly Registered.

3. Mortgage:

• A Mortgage is also a form of Assignment.
• A Mortgage is a document transferring the Patent Rights either wholly or partly to the Mortgagee with a view to secure the payment of a specified sum of money.
• The Mortgagor (patentee) is entitled to have the patent re-transferred to him on refund of the money to the Mortgagee.
• The Mortgagee (a person in whose favor a mortgage is made) is not entitled to have his name entered in the Register as the proprietor, but he can get his name entered in the Register as a Mortgagee.