Why Real Estate businesses need an industry-specific IP Assignment Agreement
Real Estate operators in Thailand work under specialised regimes including āļāļĢāļ.āļāļēāļāļēāļĢāļāļļāļ, āļāļĢāļ.āļāļąāļāļŠāļĢāļĢāļāļĩāđāļāļīāļ, Foreign Land Ownership restrictions. Off-the-shelf IP Assignment Agreement templates available online do not cover these obligations, and tend to be interpreted against the party with weaker bargaining power once a dispute arises.
Based on NYC Legal's experience with 450+ Real Estate clients, the recurring pain points are: Foreign 49% quota · FET-form · Leasehold 30+30+30. Our industry-specific IP Assignment Agreement build is engineered to neutralise these risks before signature, anchored to recent Thai-court precedent from the last 5 years.
Legal framework referenced
An enforceable IP Assignment Agreement must integrate Thai general law, sector-specific rules, and the international conventions Thailand has acceded to:
âĒ Thailand Trade Competition Act 2017 â bans exclusive dealing that restricts competition âĒ CISG (Vienna Convention 1980) â international sale of goods (Thailand not a party but opt-in is valid) âĒ Thailand Labour Protection Act 1998 (as amended 2019) â non-compete capped at 2 years / reasonable radius âĒ Hague Apostille Convention 1961 â effective in Thailand 19 December 2024, cutting legalisation time by ~70%
Sector rules for Real Estate: âĒ āļāļĢāļ.āļāļēāļāļēāļĢāļāļļāļ âĒ āļāļĢāļ.āļāļąāļāļŠāļĢāļĢāļāļĩāđāļāļīāļ âĒ Foreign Land Ownership restrictions âĒ EIA Regulations â every clause is mapped to the relevant statute so it stands up in court and at arbitration.
Signature clauses included by default
Our Real Estate edition of the IP Assignment Agreement includes the following provisions that generic templates omit:
(1) Title transfer at Land Office · (2) Right of first refusal · (3) Foreign quota 49% (condo) · (4) EIA covenant · (5) Common area maintenance
Each clause has been reviewed by counsel with direct Real Estate sector experience and benchmarked against Fortune 500 / Magic Circle precedent, so foreign counterparties accept them and the chosen governing law will enforce them as drafted.
Common pitfalls checklist
Across 450+ Real Estate contract reviews, the recurring defects that render a contract unenforceable or one-sided are:
1. No Notice clause specifying official addresses and delivery method · 2. Confidentiality clause omits the survival period after termination · 3. No Anti-Bribery / FCPA / UK Bribery Act clause â fails Fortune 500 procurement standard · 4. Defined Terms are incomplete â key words used before they are defined, creating conflicting interpretations · 5. Limitation of Liability does not separate direct / indirect / consequential damages · 6. Payment terms omit default interest (Thai CCC §224 default is 5% p.a.) · 7. Indemnity clause has no cap â unlimited exposure, conflicts with CCC §150 reasonableness · 8. Force Majeure clause does not cover pandemic, sanctions, or cyber outage
Every NYC Legal draft passes a 32-point Pre-Sign Audit Checklist before delivery, eliminating the issues above as a matter of standard procedure.
Counterparties and typical use cases
The IP Assignment Agreement for Real Estate businesses is most commonly used in relationships with āļāļđāđāļāļ·āđāļāļāđāļēāļāļāļēāļāļī, Developer, āļāļĢāļĄāļāļĩāđāļāļīāļ, āļāļāļēāļāļēāļĢāļāļđāđāļāļĨāđāļāļĒāļāļđāđ, āļāļīāļāļīāļāļļāļāļāļĨāļāļēāļāļēāļĢāļāļļāļ. Each counterparty carries a different bargaining posture, so our attorneys calibrate position (buy-side, sell-side, or neutral) and protection level (heavy, balanced, light) to match your deal objectives.
Primary use cases in this sector: Acquisition. For cross-border enforceability we ship a bilingual ThaiâEnglish version together with Notary Public certification plus Apostille (126 Hague-party states) or Consular Legalisation chain (rest of the world), packaged as a single engagement.
Four pricing tracks
1) Standard â from THB 8,500 · first draft in 3 business days · 2 revision rounds · Notary Public bundled.
2) Express (Rush) â from THB 12,750 · first draft in 24-48 hours · 3 revision rounds · for deals that must close fast.
3) Premium (Negotiation) â from THB 21,250 · 5-8 page legal memorandum · risk matrix · 2 rounds of term-sheet negotiation · 6-month post-signing compliance checklist · for deals above THB 10M.
4) Retainer (Annual) â from THB 68,000/year · unlimited IP Assignment Agreement drafting and review · 4-hour legal hotline SLA · for Real Estate businesses closing 3+ deals per month.
Six-step workflow
1) Intake â deal context, position, counterparty, governing law, budget captured via a 12-field form (15 minutes).
2) Risk Assessment â sector-specific risk matrix for Real Estate delivered within 24 hours.
3) Drafting â senior counsel drafts against the 32-point Pre-Sign Audit Checklist within 3 business days.
4) Revision â client review, optional 30-minute call, 2-3 in-scope rounds.
5) Execution â Notary Public + Lawyers Council of Thailand certificate.
6) Post-Sign â file vaulted for 12 months · free revisions on regulatory change · ongoing monitoring of statutes affecting your contract.
Why pick NYC Legal for IP Assignment Agreement in Real Estate
Attorneys 12+ years · 6 Notary Publics · 3,000+ documents per year · Real Estate, FDI, listed companies, SMEs â 450+ direct Real Estate clients.
Drafting in Thai and English (plus Chinese, Japanese, Arabic on request) · governance model: one senior lead + one independent quality reviewer before delivery.
Quality Guarantee â if a contract is held void or unenforceable due to our error, we refund the legal fee in full · backed by Professional Indemnity Insurance.
Signature clauses
- Title transfer at Land Office
- Right of first refusal
- Foreign quota 49% (condo)
- EIA covenant
- Common area maintenance
Frequently asked questions
How much does a IP Assignment Agreement for the Real Estate industry cost?
Four tracks: Standard THB 8,500 (3 days) · Express THB 12,750 (24-48h) · Premium THB 21,250 (legal memo + negotiation) · Retainer THB 68,000/year (unlimited).
Why use an industry-specific version for Real Estate businesses?
Because āļāļĢāļ.āļāļēāļāļēāļĢāļāļļāļ and the recurring pain points (Foreign 49% quota, FET-form) are not covered by generic templates. Using a non-sector template is the single largest source of contract disputes in this industry (62% of IP & International Trade Court cases, 2023).
Does it work with foreign counterparties?
Fully supported. Bilingual ThaiâEnglish + Notary Public + Apostille (126 Hague-party states â Thailand effective 19 Dec 2024) or Consular Legalisation chain (rest of world), covering 168+ jurisdictions.
How long does notarisation take?
Same-day notarisation by our in-house Notary Public attorneys (Lawyers Council standard fee THB 1,500 per stamp; included in the Premium package).
Is there post-signing support?
Yes. Premium includes a 6-month post-signing compliance checklist + a 12-query legal hotline. Retainer is unlimited + ongoing monitoring of regulatory change affecting your contract.
If the counterparty requests many edits, will you charge more?
Standard includes 2 rounds · Express 3 · Premium 4 · Retainer unlimited. Out-of-scope revisions billed at THB 2,500/hour senior counsel, always with advance approval.
How is confidentiality handled?
Every attorney and staff member signs an NDA and is bound by Thailand PDPA 2019 · files stored in AES-256-encrypted vault · access logged · no third-party disclosure without written consent.
Should the governing law be Thai or foreign?
Depends on leverage and asset location â our analysis: if assets / debtors are in Thailand, choose Thai law + Thai courts · if the counterparty is a foreign MNC, Singapore law + SIAC arbitration is the neutral default. We draft both options for comparison.