The following IP precedent Produced in partnership with Thomas Bjorn of Royds Withy King LLP and David Hobson/Martin MacLean of Mathys & Squire LLP provides comprehensive and up to date legal information covering:
This AGREEMENT is dated [insert date]
[insert name] [of OR a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at] [insert address] (Assignor); and
[insert name] [of OR a company incorporated in [England and Wales] under number [insert registered number] whose registered office is at] [insert address] (Assignee) (each of the Assignor and the Assignee being a party and together the Assignor and the Assignee are the parties).
The Assignor is the [owner of OR applicant for] the Patents as defined herein.
The [Parties have entered into the Main Agreement as defined herein and the] Assignor has agreed to assign such Patents to the Assignee and the Assignee has agreed to accept the assignment in accordance with the terms of this Agreement.
THe parties agree:
Definitions and interpretation
In this Agreement:
means any entity that directly or indirectly controls, is controlled by or is under common control with, another entity;
means any biological agent such as cells, viruses, or tissues deposited under the Budapest Treaty;]
means the Budapest Treaty on the International Recognition of the Deposit of Microorganisms for the Purposes of Patent Procedure 1980;]
means a day, other than a Saturday, Sunday or public holiday, on which clearing banks are open for non-automated commercial business in the City of London;
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What is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual positions•the main grounds of
ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and several in contract is a question of construction
Who is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business partner and
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
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