Avoid jointly owned IP like the plague

Joint ownership of intellectual property is often perceived as a fair solution, but it is fraught with danger. The most critical issue to resolve is ownership of the resulting intellectual property rights created when collaborating with an external party. It is advisable to avoid jointly owned intellectual property rights and explore alternative approaches, such as one party owning all intellectual property or dividing the portfolio based on vested interests. The agreement between parties should set out in detail the worldwide rights and obligations of all parties involved.