Employer-Employee Agreements
In today’s knowledge driven economy, it is important for business enterprises to develop Intellectual Property (IP) portfolio to maintain their competitiveness. Assets in the form of IP, although intangible, are now equally important along with traditional assets like machinery, land, labour, etc.
Date & Time
16
Apr 2020 | 4:00 PM - 5:00 PM
Since IP is a creation of human intellect, business enterprises have to rely upon its employees for creation of IP.
The creation of IP by an employee raises issues such as ownership, remuneration, rights and obligations, and most importantly the agreements governing the said relationship. There are certain unique requirements in this regard under specific IP statutes and it must be noted that all requirements under the respective IP statutes are in addition to the general requirements under the Contract Act, 1872.
Accordingly, it is important for both employers and employees to be aware of their respective rights and obligations while entering into various agreements with respect to IP. It is important for employers to ensure that IP generated, in the course of employment, by their employees is legally assigned to them. It is equally important that the employees are not bound in an excessive manner, for instance when they are contractually forbidden to use the knowledge and skills acquired during their term of employment after termination of their services, since such agreements may not withstand judicial scrutiny. The agreements should provide a balanced approach wherein the employers can retain rights to IP for maximization of the business potential and employees are appropriately incentivized not only to generate IP but are also recognized for the IP so generated.
Lakshmikumaran & Sridharan (L&S), in its endeavour to keep all its clients updated, is organizing a conference call wherein speakers will discuss the rights and obligations with respect to IP rights in an employer and employee context.
Speakers
- Mr. Anil Dutt, Partner, L&S Attorneys
- Mr. Sudarshan Singh, Partner, L&S Attorneys
