contract-law power-of-attorney
Attorney In Fact clause -- what does it imply?
<p><strong>Attorney-in-Fact:</strong></p>

<blockquote>
  <p>If Contractor’s unavailability or any other factor prevents Company from 
  pursuing or applying for any application for any United States or foreign registrations or applications covering the Inventions and related intellectual property rights assigned to Company, then Contractor irrevocably designates and appoints Company as Contractor’s agent and attorney in fact. Accordingly, Company may act for and in Contractor’s behalf and stead to execute and file any applications and to do all other lawfully permitted acts to further the prosecution and issuance of the registrations and applications with the same legal force and effects as if executed by Contractor. </p>
</blockquote>

<p>Does this imply that the Company can temporarily 'take over' my business if my LLC is the 'Contract' in this agreement?  </p>

<p>They can't take over your business. The can only act on behalf of the business with respect to "any application for any United States or foreign registrations or applications covering the Inventions and related intellectual property rights <em>assigned to Company.</em>"</p>

<p>(emphasis added)</p>

<p>In particular, because of the italicized phrase, this does not allow the company to act on behalf of your business with respect to the business's own assets, including intellectual property that it retains (if any).</p>
