EXHIBIT 10.3
PATENT ASSIGNMENT
THIS PATENT ASSIGNMENT (this "Assignment") is executed and delivered as of
this 6th day of August, 2004 ("Effective Date") by HIGH SPEED FRAGMENTATION,
B.V., a Netherlands company ("Assignor"), to and in favor of DDS TECHNOLOGIES
USA, INC., a Nevada corporation with its principal office at 150 East Palmetto
Park Road, Suite 510, Boca Raton, Florida 33432 ("Assignee").
WHEREAS, Assignor wishes to assign to Assignee, and Assignee wishes to
obtain from Assignor, all of the Assignor's rights, title and interest in and to
all of the inventions and patent rights, including, but not limited to, the
United States and foreign patents, set forth on Schedule A attached hereto
(collectively, the "Patents").
NOW, THEREFORE, for Ten Dollars ($10.00) and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Assignor hereby sells, assigns, transfers and sets over to Assignee Assignor's
entire right, title and interest in and to the Patents, for the United States
and for all foreign countries, including, without limitation, any continuations,
divisions, continuations-in-part, reissues, reexaminations, extensions or
foreign equivalents thereof, and including the subject matter of all claims that
may be obtained therefrom, and all other corresponding rights that are or may be
secured under the laws of the United States or any foreign country, now or
hereafter in effect, for Assignee's own use and enjoyment, and for the use and
enjoyment of Assignee's successors, assigns or other legal representatives, at
least as fully and entirely as the same would have been held and enjoyed by
Assignor if this Assignment had not been made, together with all income,
royalties, damages or payments due or payable as of the Effective Date or
thereafter, including, without limitation, all claims for damages by reason of
past, present or future infringement or other unauthorized use of the Patents,
with the right to sue for and collect the same for its own use and enjoyment,
and for the use and enjoyment of its successors, assigns or other legal
representatives.
Assignor hereby authorizes and requests the Commissioner of Patents and
Trademarks, and the corresponding entities or agencies in any applicable foreign
countries, to record Assignee as owner of the Patents.
Assignor represents and warrants that: (i) Assignor is the owner of the
entire right, title and interest in and to the Patents (including the
corresponding rights set forth above), free and clear of any liens, security
interests or other encumbrances of any kind; (ii) Assignor has the full right
and authority to execute this Assignment and to assign to Assignee the rights
assigned herein); and (iii) Assignor has not executed, and will not execute, any
agreement or other instrument in conflict herewith.
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Assignor shall take all further reasonable actions, and provide to
Assignee, Assignee's successors, assigns or other legal representatives, all
such reasonable cooperation and assistance (including, without limitation, the
execution and delivery of any and all affidavits, declarations, oaths, exhibits,
assignments, powers of attorney or other documentation), requested by Assignee
to more fully and effectively carry out the purposes of this Assignment,
including, without limitation, with respect to the following: (1) the
preparation and prosecution of any applications relating to any of the rights
assigned herein; (2) the prosecution or defense of any interference, opposition,
reexamination, reissue, infringement or other proceedings that may arise in
connection with any of the rights assigned herein, including, without
limitation, testifying as to any facts relating to the Patents and this
Assignment; (3) obtaining by Assignee of any additional patent protection
relating to any of the rights assigned herein that Assignee may deem appropriate
that may be secured under the laws now or hereafter in effect in the United
States or any foreign country; and (4) the implementation or perfection of this
Assignment in all applicable jurisdictions throughout the world.
IN WITNESS WHEREOF, Assignor has caused this Assignment to be executed by
its duly authorized representative as of the Effective Date.
ASSIGNOR:
HIGH SPEED FRAGMENTATION, B.V.,
a Netherlands company
By: /s/ Roberto Mameli
-----------------------------------------
Name: Roberto Mameli
Title: Director
Witness: ______________________ Printed Name:___________________
Witness:_______________________ Printed Name:___________________
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ASSIGNEE:
DDS TECHNOLOGIES USA, INC., a
Nevada corporation
By: /s/ Spencer L. Sterling
-------------------------------------------
Name: Spencer L. Sterling
Title: President and Chief Executive Officer
STATE OF FLORIDA )
) SS:
COUNTY OF _____________ )
The foregoing Assignment was acknowledged before me this 19th day of
August, 2004 by Spencer L. Sterling, the President and Chief Executive Officer
of DDS Technologies USA, Inc., a Nevada corporation. He is personally known to
me or has produced _________________ as identification.
Notary: ________________________________
Print Name: _____________________________
[NOTARIAL SEAL]
Notary Public, State of Florida
My commission expires:
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SCHEDULE A
PATENTS
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Jurisdiction Application Serial Filing/Issue Date Title
No./Patent No.
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1. European Patent Office Patent No. EP1366829 A longitudinal micrometric
separator for classifying
Applic. Ser. No. 02425336.1 Filed May 28, 2002 solid particulate materials
- ----------------------------- ----------------------------- ----------------------------- ----------------------------
2. Japan Patent No. 2003340374 Longitudinal micrometric
Filed November 12, 2002 separator for classifying
Applic. Ser. No. solid particulate materials
JP20020327941
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3. Patent Cooperation Treaty PCT/IB03/00875 Filed March 11, 2003 Longitudinal micrometric
separator for classifying
solid particulate materials
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4. U.S.A. Applic. Ser. No. 10/281,911 Filed Oct. 28, 2002 Longitudinal micrometric
separator for classifying
solid particulate materials
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This Patent Assignment also includes all corresponding national stage filings
made based upon PCT/IB03/00875 and all corresponding filings made in non-PCT
countries.