An Intellectual Property Assignment Agreement is an official document that outlines the transfer of intellectual property rights from one party to another. This agreement typically includes a description of the rights being transferred, including but not limited to copyrights, trademarks, trade secrets, and patents. It also includes details such as the effective date of the agreement, ways to protect confidential information, and ownership rights once the agreement is complete. By putting this agreement into writing and having both parties sign it, a business can ensure that their valuable intellectual property assets are clearly defined.