Agreement on alienation of exclusive rights

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Under an agreement on the alienation of an exclusive right (EPR), the Copyright Holder transfers or undertakes to transfer the exclusive rights to the result of his intellectual activity or to a means of individualization in full to the Acquirer, who becomes their owner.

The exclusive right passes from the Copyright Holder to the Acquirer at the time of concluding an agreement on the alienation of the exclusive right, unless otherwise provided by agreement of the parties. If the transfer of the exclusive right under the IPR Agreement is subject to state registration, then the exclusive right passes from the Copyright Holder to the Acquirer at the time of state registration.

Alienation can be compensated or gratuitous in the case of a gift and is carried out at the will of the owner on the basis of an Agreement concluded with the Acquirer of the exclusive right. If the Agreement does not state that it is free of charge and its price is not indicated, then the Agreement is considered not concluded. If the Acquirer violates the obligation to pay the Copyright Holder the remuneration within the period established by the IP agreement, the Copyright Holder has the right to demand the return of the exclusive right and compensation for damages in court.

The essential terms of the Agreement include:

– the price of the Agreement is usually determined in the form of a one-time payment, but other terms and payment procedures may be agreed upon;

– An agreement on the alienation of an exclusive right is concluded in writing, failure to comply with which entails the invalidity of the agreement;

– the transfer of the exclusive right under the Agreement is subject to state registration.

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