TRANSFER OF OWNERSHIP AGREEMENT
This Transfer of Ownership Agreement (hereinafter referred to as the “Transfer”) is
entered into on ____________ by and between ____________________ (hereinafter
referred to as the “Assignee”) and _______________________ (hereinafter referred to
as the “Artist”). Together referred to as “parties.”
WHEREAS the Artist has designed original Cartoon characters (hereinafter referred to
as the “Content”);
WHEREAS the Assignee is desirous of acquiring the entire right, title, interest, and
ownership in the said content and any copyright arising thereon;
NOW, THEREFORE, for valuable consideration by the Assignee, receipt of which is
hereby acknowledged by the Artist, the parties agree to be bound by the following terms
and conditions: –
1. Transfer.
The Artist hereby willingly and irrevocably transfers and conveys to the Assignee the
entire right, title, interest, and ownership in the content created and all copyrights.
The artist herein is given access and allowed to use the content created however they
wish during the existence of this agreement.
2. Compliance.
The Artist hereby agrees to cooperate with the Assignee in handing over the ownership
and title of the Content created to enable the Assignee to enjoy it to the fullest extent.
The cooperation shall include but is not limited to the execution of necessary paperwork
for the transfer.
3. Term.
The terms and provisions of this transfer shall accustom to the benefit of Assignee, its
successors, assigns, and other legal representatives and shall be binding upon said
Artist, his respective heirs, legal representatives, and assigns.
Parties further agree that the agreement for providing the content shall be for a term of
five years.
4. Warranties.
The Artist warrants and represents that; –
i. No other assignment, contract, or understanding was entered into conflict with
this agreement.
ii. They are the owners of the content.
iii. They have the right to transfer the Ownership to the Assignee.
5. Dispute/Conflict Resolution.
In the event of a dispute between the parties herein, the parties shall first attempt to
negotiate to reach a consensus mutually. However, if it fails, the dispute shall be
resolved through mediation in accordance with the laws of the Philippines.
Parties shall bear their costs for the mediation.
6. Termination.
The Assignee reserves the right to terminate the provision of the content by the Artist
without notice under the following circumstances; –
i. If the Artist portrays the character in a pornographic manner
ii. If the Artist does something the Assignee did not agree on/approve of
iii. Problems stemming from creative differences.
If the Artist terminates this agreement for the provision of the content, they forfeit the
right to the use of the content already provided.
7. Governing Law.
This Agreement shall be governed and construed in accordance with the laws of the
Philippines.
8. Relationship.
The relationship between the parties herein is that of an independent contractor.
Nothing in this Agreement shall be construed as a partnership, joint venture, or
employee.
9. Severability.
If any part of this Agreement is deemed invalid or unenforceable, the same shall be
severed from this Agreement, and the remaining provisions shall continue to be in
effect.
10. Waiver.
The failure of any party to exercise any right or provision of this Agreement shall not be
a waiver of any prior or subsequent rights.
11. Modification.
No amendment or modification of any provision of this Agreement shall be effective
unless in writing and signed by the parties.
THE ARTIST; –
Name:
______________________________
Signature:
___________________________
Designation:
_________________________
Date:
_______________________________
THE ASSIGNEE; –
Name:
______________________________
Signature:
___________________________
Designation:
_________________________
Date:
_______________________________
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