It is advisable to avoid common intellectual property rights. Jointly developed intellectual property rights can be defined as intellectual property rights developed jointly by both or more parties, where the list of inventors includes workers from both parties and the parties share the costs and risks of research and development and its results. However, the co-ownership of intellectual property rights can be defined as two or more parties with common ownership and control of the same intellectual property or patent rights. This may mean that a joint decision by all parties is required for almost all IP transfers. This may mean that all operating rights must be dealt with contractually, for example. B with the written agreement of one party, to allow the other party to assert its rights, possibly with certain restrictions on the sublicensing and/or licensing and the obligation to share the revenues of the licence. U.S. Common Intellectual Property Legislation Common ownership of intellectual property rights faces challenges at every stage of the patent process and different business requirements result in different patent coverage requirements. The drafting, filing and follow-up of a patent thus becomes complicated and costly, and the end result may not be optimal for some parties or for all parties involved. The granting of a common patent license reduces the value for both owners if a license from both owners is available. There is no effective way to agree, not to prosecute or to assert. The transfer of joint intellectual property rights is also a challenge.
The value is diluted because it is possible to transfer only the owner`s share, not the entire rights. Similarly, warranties generally require full ownership. When notifying patents essential for an interoperability standard, both owners must declare the same rules and commit to making the declaration effective. Where patent disputes are pending, most countries require that both owners be considered plaintiffs and have no common interest, the patent is in fact of no value. As far as corporate accounting is concerned, it can be difficult to include in the company`s balance sheet the correct financial assessment of intellectual property rights with shared property. Personally, I would recommend avoiding common intellectual property like the plague. If the parties decide that common ownership is the best solution, the most important thing is to remember that the agreement between the parties should detail the rights and obligations of all parties concerned in terms of common intellectual property. Common ownership should never be considered a “simple option.” Common intellectual property can also be the “easy” option because it does not require a thorough discussion of how intellectual property should be distributed and does not seem to give one party an advantage over another.