Assignment of Intelectual Property

[jdickins]

I have signed an assignment of rights document now two years old. I was supposed to receive $10.00 (receipt acknowledged) and good and other valuable consideration I was informed was reflected by a promise to issue 1/3 stock in the corporation I helped found. The corporation now chooses not to issue the stock without first receiving $2,000.00 for it and has provided no other compensation representing the good and other valuable consideration. As this consideration is mentioned in both the Assignment of rights and Restrictive covenant agreement and is unsatisfied do I retain legal ownership of my intellectual property or need I pursue another course to force the Corp. to make good on it's document where in my rights were assigned?

 

[jdickins]

Missing Information

What property did the assignment agreement concern?

The assignment refers to a process I invented where in Computers can use existing Central Station Technology commonly available to only alarm systems to report failures.


How many shares of stock did the assignment provide you would receive?

The Assignment uses a vague phrasing of "10.00 dollars and other good and valuable consideration receipt of which is acknowledged herein" There is no specific statement detailing precisely what the valuable consideration is supposed to be in fact I would honestly have to say that the only consideration given was a verbal promise of 1/3 of the shares in the company.


When?

Articles of Incorporation 02/2000
Assignment of rights for intellectual property concerning "Status Call" (invention marketing name) 04/2000
Restrictive Covenant Agreement 04/2000
Share holders agreement and By Laws executed after 4/2000