An Intellectual Property Sale Agreement is a legal contract between two parties that outlines the terms of the sale or transfer of IP assets from one party to another. This agreement includes both tangible IP assets (such as patents and copyrights) and intangible assets (such as knowledge, trade secrets, and other intellectual property). It typically sets out the specificities of rights and limitations on use of the inventories, as well as any royalties or fees that may be due for the duration of the agreement. In addition, it may establish rules regarding the disclosure of confidential information, prohibited acts against the buyer/seller, and how disputes may be handled in the future. This agreement serves to protect both parties by clearly defining their respective rights and obligations.