Sample: Asset Transfer Agreement

Asset Transfer Agreement

This Agreement relates to the sale and transfer or license of work submitted by JaneUser (Submitter) and purchased by JoeUser (Gig Owner) using Kompoz Studio acting solely as agent.

By executing this agreement, Submitter and the Gig Owner will be deemed to have entered into a binding agreement for the sale of the Submission and all commercial rights associated with it from the Submitter to the Gig Owner for a price of $1.00, in each case upon the terms of this Agreement.

Date of this agreement: March 31, 2020

1. Kompoz Terms of Use

By using Kompoz.com, you have agreed to be bound by our Kompoz Terms of Use. A copy of that agreement may be found at https://www.kompozstudio.com/legal/terms-of-use.

2. Provision of the Submission

The Submitter hereby agrees to provide and deliver the Sold Submission to the Gig Owner.

3. Assignment of the intellectual property rights

Upon receipt of payment for the Sold Submission in the form of Kompoz Dollar Credits to his/her account the Submitter hereby assigns to the Gig Owner, all Intellectual Property Rights which the Submitter has or may in the future have in the Sold Submission.

The Submitter declares that the work submitted is his/her original work.

The Submitter hereby indemnifies and keeps indemnified the Gig Owner, Kompoz and Kompoz's third party providers ("Indemnified Parties") against any loss, cost, expense or damage (including legal costs on a full indemnity basis) which the Indemnified Parties may suffer or incur as a result of a breach by the Submitter.

4. Liability of Kompoz and its third party providers

You acknowledge and agree that:

  1. Kompoz is not party to this Agreement; and
  2. Kompoz is not be liable or responsible for any breach of this Agreement by any party to this Agreement.

5. Miscellaneous

Any notice given under this Agreement must be in writing and must be signed by the party or its agent giving the notice. A notice is taken to be received:

  1. In the case of a notice delivered by hand, when so delivered;
  2. In the case of a notice sent by pre paid post, on the third day after the date of posting;
  3. In the case of a notice sent by facsimile, upon the receipt by the sender of a transmission report from the dispatching facsimile machine which confirms that the facsimile has been successfully sent; or
  4. In the case of a notice sent by email, upon the receipt by the sender of a confirmation from the recipient or the recipient's email server that the email has been received by the recipient.

If any provision of this Agreement is judged invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction, such invalidity or unenforceability (unless deletion of such provision would materially adversely affect one of the parties) will not affect the operation or interpretation of any other provision of this Agreement to the intent that the invalid or unenforceable provision will be treated as severed from this Agreement.