English Translation of Patent Assignment Agreement
Exhibit
10.7
English
Translation of
Preamble
Whereas,
the Assignor (Beijing Huiyuan Duoyuan Digital Technology Institute) owns the
patent for a device for automatic, quick clearing of printing press ink system
with the following details: its patent number being 00254747.3, its publication
number being Hao CN 2447175, its application date being September 25, 2000, and
its duration being 10 years;
Whereas,
the Assignee (Duoyuan Digital Printing Technology Industries (China) Co. Ltd)
has knowledge of the aforementioned patent and desires to obtain such patent;
and
Whereas,
the Assignor agrees to assign such patent to the Assignee;
Both
parties hereby agree to enter into the following agreement:
Article 1 Materials to be Delivered from the
Assignor to the Assignee
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1.
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All
the materials submitted to China Patent Office ("CPO") for patent
application, including specifications, claims of the investor’s patent
right, appended drawings, abstracts and appended drawings, written
requests, agent entrustment letter,
etc.
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2.
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All
the documents issued by the CPO to the Assignor, including the acceptance
notice, intermediary documents, authorization decision, patent
certificate, etc.
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3.
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Proof
issued by CPO regarding the validity of the subject patent, i.e., evidence
on the latest payment of annual fee for such
patent.
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Article 2 Time, Place and Method of
Delivery
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1.
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Time
of Delivery
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After the
effectiveness of this Agreement, the Assignor shall deliver all the materials
stipulated in Article 1 herein to the Assignee on the day the Assignee pays up
the assignment fee to the Assignor.
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2.
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Place
and Method of Delivery
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The
Assignor shall deliver all the aforementioned materials to the Assignee in
person, and shall deliver a list of such materials to the Assignee in
person.
All the
materials shall be delivered to the Assignee at the venue where the Assignee is
located.
Article 3 Exploitation of the Patent, Disposal
after Exploitation
If the
Assignor has exploited the patent before the execution of this Agreement, the
Assignor shall cease such exploitation immediately after the effectiveness of
this Agreement.
If the
Assignor has licensed any other party to exploit the patent, relevant rights and
obligations shall be transferred to the Assignee upon the effectiveness of this
Agreement.
Article 4 Assignment Fee and Payment
Method
The
patent shall be assigned to the Assignee free of charge, and any expenses
incurred in connection with such assignment shall be born by the
Assignee.
Article 5 Effects of the Patent Being Revoked or
Declared Invalid
According
to Article 50 of the Patent
Law of PRC, after the making of this Agreement, if the patent is revoked
or declared invalid, the Assignee need not return all the materials to the
Assignor if there is no obvious violation of the principal of fairness and the
Assignor has not caused any loss to the Assignee in bad faith.
If any
third party petitions to the CPO for the patent to be revoked or declared
invalid by the Patent Review Panel, or files a lawsuit to challenge the decision
of the Panel at the People's Court (regarding an invention), the Assignee shall
be responsible for defense and bear all the expenses incurred in connection with
such petition or lawsuit after the making of this Agreement.
Article 6 Transition Period
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1.
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After
the execution of this Agreement, the Assignee shall be responsible to pay
all expenses necessary for keeping this patent
effective.
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2.
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During
the Transition Period, if the Assignor or the Assignee becomes unable to
perform this Agreement due to force majeure, this Agreement shall be
deemed terminated.
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Article 7 Dispute Solution
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1.
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Both
parties shall try to solve any disputes in connection with the performance
of this Agreement through amicable negotiation according to the provisions
herein.
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2.
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If
the dispute cannot be solved through negotiation, it shall be submitted
for mediation to the patent authority of the location of the Assignee or
of the formation of this Contract. If any party is not satisfied with the
result of such mediation, it may initiate a legal
proceeding.
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Article 8 Effectiveness of
Agreement
This
Agreement shall become binding on the both parties upon execution, and shall
become legally effective on the date when the CPO registers and publishes the
Amendment of Data Entries filed by both Parties.
Assignor:
Beijing
Huiyuan Duoyuan Digital Printing Technology Institute
(Seal of
Beijing Huiyuan Duoyuan Digital Printing Technology Institute)
Assignee:
Duoyuan
Digital Printing Technology Industries (China) Co. Ltd
(Seal of
Duoyuan Digital Printing Technology Industries (China) Co. Ltd)
Date: December 26,
2002