patent assignment dispute

[Gintas]

In August of 2000, while collaborating with a company as a consultant, we filed a patent, which contains my inventions. I assigned my patent to the company in exchange for their promise to give me equity in the company. Their promise of equity was verbal (nothing was signed).

The company's present position is:
"I was paid by them to develop those ideas, therefore I'm a sort of employee, and companies customarily own the inventions of their employees. Therefore I'm not entitled to any equity in the company."

My position:
I came up with the patented ideas a few years before this company came into existence, and I have witnesses to testify to it. Therefore, my patented inventions were not a result of me doing any kind of work for them. I only got paid some modest amout for my time spent working directly on patent preparation, and they also covered the filing and patent attorney costs.

If they are not willing to give me what they promised, I want to regain the ownership of my intellectual property, so that I can find a better buyer. What are my options in terms of revoking the patent assignment?

 

[counsel]

Your case largely boils down to a question of EVIDENCE. Specifically, because the agreement was ORAL, do you have enough witnesses to prove it?

Additionally, did you and the company agree on the number of shares of equity? If not, then your agreement may fail for lack of specificity regarding "material terms" of the contract.