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An intellectual property (IP) assignment agreement is a contract that transfers IP rights from the creator to another entity, such as a holding company. This ensures that the startup owns the IP rather than the founders, advisors, or third parties involved. Typically, founders develop IP individually or as a group before incorporating a company to commercialize it; thus, protecting this IP is crucial, as it contributes to the value of the holding company. The assignment clauses in the agreement specify the transfer of ownership from the creator to the holding company, requiring an exchange of value, which may include money, employment, property, or other considerations.