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World 5 · IP Business Builder · Lesson 17

Purchasing or transferring IP

Buying IP means taking an assignment of ownership. Before money moves, check exactly what is being transferred, whether the seller can transfer it, and how the transfer is completed and recorded.

  • 5 min
  • Jurisdictions: International / treaty, Australia, Vietnam
  • Last reviewed: 19 October 2026

Draft — awaiting editorial review

Educational content, not legal advice. Lessons are drafts awaiting editorial review.

You will learn to

  • Distinguish an assignment from a licence.
  • List what to check before buying an IP asset.
  • Know the writing and recording steps for a transfer in Australia and Vietnam.

An assignment transfers ownership

An assignment is the transfer of ownership of an IP right from the owner (the assignor) to the buyer (the assignee). Afterwards the seller no longer owns what was transferred; after a partial assignment it keeps the rest. A licence is different: the owner keeps the right and gives someone else permission to use it. Many deals mix the two, so read what each clause actually does. An assignment can be limited: Australian copyright law, for example, allows a partial assignment limited to certain acts, to a place in Australia or to part of the copyright period. Name every asset being bought — each registration number, each work, each body of code — rather than writing "all IP in the business".

Can the seller sell it?

Before paying, check that the seller is the owner named on the register and in the chain of title, that the right is still in force and renewed, and what has already been granted to others. Existing licences may continue after a sale: under Australia's Copyright Act, a licence granted by the copyright owner binds later owners to the same extent as it bound the person who granted it. Also ask about security interests over the asset, disputes, co-owners whose consent the sale needs, and the employee and contractor assignments behind the asset. A register shows only what has been recorded; it does not show every agreement.

Completing the transfer

Form requirements differ by IP type and by country. In Australia, a copyright assignment has no effect unless it is in writing signed by or on behalf of the assignor, and a patent assignment must be in writing signed by or on behalf of both assignor and assignee. For an Australian trade mark, IP Australia explains that the signed agreement transfers ownership; recording the assignment updates the register but does not itself make the transfer. In Vietnam, an assignment of an industrial property right that arises through registration (such as a trademark or a patent) takes effect only when the assignment is registered with the State industrial property authority. Record the change in every country where the right is registered.

Try a scenario

Minh, a Ho Chi Minh City founder, agrees to buy the "Lotus Lane" skincare brand (fictional) from a small business, including its trademark registered in Vietnam and a set of product photos. The seller sends only a one-page invoice for a "brand transfer fee".

What is Minh's best next step?

Check your understanding

ModeSee the explanation after each question.

Pass mark: 80% — for this lesson that means every question.

Question 1 of 4A Perth start-up buys all copyright in some code from a freelance developer. They agreed by phone and the money has been paid.Under Australian law, what is needed for a legal assignment of the copyright to have effect?

Take away

Before paying for IP: list each asset, check the chain of title and existing licences, sign a written assignment, and record the transfer wherever the right is registered.

Apply it to your IP

Nothing runs or is saved on its own. Each option only opens a tool when you choose it.

What this lesson cannot tell you

Form and recording requirements differ by IP type and country, and can change. This lesson does not replace a lawyer drafting or reviewing your assignment.

Official references