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An IP assignment agreement transfers intellectual property rights from the creator to another entity, such as a holding company, ensuring that the startup owns the IP. This is important to protect the value of the holding company. Founders typically create IP individually or as a group before incorporating companies to commercialize it. The Clara IP assignment agreement transfers ownership of IP to the holding company with an exchange of value, such as money, employment, or property. This agreement is necessary to ensure that the IP is owned by the startup and not by founders, advisors, or consultants.