Creating Clear Intellectual Property Assignment Clauses

Draft a clear and comprehensive intellectual property assignment clause for a legal contract. Ensure the clause explicitly defines ownership rights and responsibilities to safeguard intellectual property assets between [Party A] and [Party B]. Address key elements including: the scope of assigned rights, any exclusions, responsibilities for future modifications, and the handling of existing IP. Include examples of standard language used in IP assignments and offer a rationale for each choice. The clause should be suitable for [industry/context] and written in [desired style/tone], with a focus on clarity, precision, and enforceability.