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INTELLECTUAL PROPERTY RELEASE AGREEMENT
This Intellectual Property Release Agreement (hereinafter "Release") is dated ________ and is between the following parties:
________ (hereinafter "Creator"), having an address at the following:
________
-and-
________ (hereinafter "New Rights Holder"), having an address at the following:
________
WHEREAS creator owns all rights, titles and interests in and to a certain work of intellectual property (hereinafter "Work"), defined specifically as the following:
________
AND WHEREAS new Rights Holder wishes to acquire such rights, titles and interests in the said Work;
AND WHEREAS creator is willing to relinquish absolute rights, titles and interests in the said Work;
NOW THEREFORE the Parties agree as follows:
1. RELEASE
Creator hereby releases, and New Rights Holder does accept, the absolute and unconditional right to reproduce, prepare derivative works, distribute, perform, and/or display the Work, as applicable. Creator does not hold any remaining rights in and to the Work, and the unconditional ability to use and exploit the Work belongs exclusively to New Rights Holder.
2. INDEMNITY
In consideration for the Creator's transfer of the Intellectual Property Rights of the Work, the New Rights Holder will pay to the Creator the following fee: $________.
3. REPRESENTATIONS
4. AGE OF CONSENT
Creator hereby warrants that Creator is of full legal age and has the right to contract in the province of Alberta.
5. ASSIGNMENT
The rights and obligations under this agreement will inure to the benefit and be binding upon any of the Creator's successors and assignees, as well as any of New Rights Holder's successors and assignees.
6. JURISDICTION & GOVERNING LAW
This Release will be governed exclusively in accordance with the laws of the province of Alberta, and the laws of Canada in effect in the province of Alberta.
7. COUNTERPARTS
This Release may be executed in counterparts, all of which shall constitute a single agreement between the parties. If the dates set forth at the end of this document are different, this Release is to be considered effective as of the date that both parties have signed the Release, which may be a later date.
8. ENTIRE AGREEMENT
9. SEVERABILITY
If any provision of this Release is held to be invalid, illegal or unenforceable by a court of competent jurisdiction, such provision shall be severed and the remaining provisions shall continue in full force and effect and shall in no way be affected or impaired thereby.
IN WITNESS WHEREOF, the Parties execute the Agreement as follows:
________________________________________ (signature)
________
Date:
________________________________________ (signature)
________
Date:
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