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An Intellectual Property (IP) Assignment Agreement is a contract that transfers ownership rights of intellectual property from its creator to another entity, often a holding company. This ensures that the startup owns the IP instead of individual founders, advisors, or consultants, protecting its value. Typically, founders create IP before incorporating a company to commercialize it, necessitating the agreement to safeguard the developed IP. Clara's IP assignment agreement includes clauses that formally transfer ownership of the IP, requiring an exchange of value (such as money, employment, or property) for the transfer to be valid.
