THIS AGREEMENT is made the ______ day of _________, 20___

BETWEEN: [Name of Company] [ACN if Corporation] of [address] (“the Company”)

AND: [Name of Co-owner] [ACN if Corporation]of [address] (“the Co-owner”).

RECITALS

A.        The Company and the Co-owner are the proprietors of an invention relating to [specify nature of invention] and have at the cost of the company jointly applied for the grant of a patent in respect of the Invention.
B.        The Company and the Co-owner wish to define their respective rights and liabilities in the Invention and in any Patent granted pursuant to the Application.