Document background
The Patent Co-Ownership Agreement is essential when multiple parties jointly develop or acquire rights to patented technology in Malaysia. This document becomes necessary when inventors collaborate on research projects, when companies jointly develop technology, or when patent rights are transferred to multiple owners. It operates within the framework of Malaysian patent law, particularly the Patents Act 1983 and Patents Regulations 1986, while also considering contractual principles under the Malaysian Contracts Act 1950. The agreement typically includes detailed provisions for patent prosecution, maintenance, commercialization rights, revenue sharing, and dispute resolution. It's particularly crucial for protecting each party's interests and preventing future disputes over patent exploitation and management.
