An Employee Intellectual Property Agreement (EIPA) is an essential legal document that outlines the terms and conditions for protecting a business’s intellectual property (IP). The agreement typically states that any IP created by employees during their employment with the company is owned by the company, regardless of who initially owns the copyright to the material. The agreement also sets out how any rights or benefits from the exploitation of IP, such as patents and trademarks, are to be shared between employee and employer. By establishing a clear understanding of these matters in a legally binding document, businesses can ensure that their IP is adequately protected and managed.