Patent Assignment

This Patent Assignment (the “Assignment”) is made and effective as of between , a located at (the “Assignor”), and Galaxy Holdings, a TX LLC located at (the “Assignee”). The Assignor and the Assignee are each a “Party” and together the “Parties.”

1. Recitals

The Assignor owns the entire right, title, and interest in and to the invention and the patent or patent application identified below, and the Assignee wishes to acquire that interest. The Assignor wishes to assign it on the terms of this Assignment.

2. The Patent Rights

The patent rights assigned under this Assignment (the “Patent Rights”) are identified as follows, together with the underlying invention:

3. Assignment

For the consideration described in Section 4, the Assignor hereby irrevocably sells, assigns, transfers, and conveys to the Assignee, its successors and assigns, the entire right, title, and interest, throughout the world, in and to: (a) the invention described in the Patent Rights; (b) the patent or application identified in Section 2, and all provisional, non-provisional, divisional, continuation, continuation-in-part, reissue, re-examination, and substitute applications, and all patents granted on any of them; (c) all priority rights and rights to claim priority; (d) all foreign counterparts and rights to file for the same; and (e) all causes of action, claims, and rights to sue and recover damages and other remedies for past, present, and future infringement, including the right to retain all proceeds.

4. Consideration

In consideration of this Assignment, the Assignee shall pay or deliver to the Assignor . The Assignor acknowledges the receipt and sufficiency of this consideration, the adequacy of which is conclusively presumed for purposes of this Assignment.

5. Assignor Warranties

The Assignor represents and warrants that: (a) it is the sole owner of the entire right, title, and interest in and to the Patent Rights; (b) it has full power and authority to make this Assignment; (c) the Patent Rights are free of liens, licenses, security interests, and other encumbrances except as disclosed in writing to the Assignee; (d) it has not previously assigned or granted any conflicting right in the Patent Rights; and (e) to its knowledge, it has not done and will not do any act inconsistent with the rights assigned.

6. USPTO Recordation and Further Assurances

The Assignor shall, at the Assignee’s reasonable request and expense, execute and deliver all further documents and take all further acts reasonably necessary to perfect, record, prosecute, maintain, and enforce the Patent Rights, including executing oaths, declarations, powers of attorney, and assignment documents suitable for recordation with the United States Patent and Trademark Office (USPTO) Assignment Recordation Branch under 35 U.S.C. § 261 and with any corresponding foreign patent office. The Assignee may record this Assignment with the USPTO. The Assignor authorizes and requests the Commissioner for Patents to issue any resulting patents to the Assignee, and appoints the Assignee as its attorney-in-fact, coupled with an interest, solely to execute such documents if the Assignor fails to do so within a reasonable time after written request.

7. Governing Law

This Assignment is governed by and construed in accordance with the laws of the State of TX, without regard to its conflict-of-laws rules, and by applicable U.S. federal patent law. This Assignment is the entire agreement between the Parties on its subject matter and may be executed in counterparts, including by electronic signature.

Assignee — Galaxy Holdings

Name: Michael Yuan
Title: General Manager
Date:

Assignor —

 

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Title:
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