50-667. Same; disclosures; required information and statement in contract.
50-667
50-667. Same; disclosures; required information and statement incontract.An invention promoter shall make the following disclosures:
(a) In any solicitation, whether a fee is charged for invention promotionservices.
(b) In any contract between an invention promoter and consumer forinvention promotion services:
(1) The fee to be charged and the specific services to be providedincluding:
(A) Whether the promoter will construct one or more prototypes, models ordevices embodying the consumer's invention;
(B) whether the promoter undertakes to sell or distribute one or moreprototypes, models or devices embodying the consumer's invention;
(C) the expected completion date of services; and
(D) the extent to which the invention promoter will acquire an interestin the title to the consumer's invention.
(2) Whichever of the following statements is applicable:
(A) That the invention promoter does not evaluate either:
(i) The commercial feasibility of inventions submitted to the invention promoter; or
(ii) the technical feasibility of inventions submitted to the invention promoter; or
(B) that the invention promoter does evaluate either:
(i) The commercial feasibility of inventions submitted to the invention promoter; or
(ii) the technical feasibility of inventions submitted to the invention promoter.
(3) That without an evaluation of commercial or technical feasibility,the consumer is at substantial risk that the invention may not becommercially or technically feasible.
(4) The following statement in 10 point boldface type:
"IF YOU ASSIGN EVEN A PARTIAL INTEREST IN THE INVENTION TO THE INVENTIONPROMOTER, THE INVENTION PROMOTER MAY HAVE THE RIGHT TO ASSIGN OR LICENSEITS INTEREST IN THE INVENTION, OR MAKE, USE, AND SELL THE INVENTION,WITHOUT YOUR CONSENT AND MAY NOT HAVE TO SHARE THE PROFITS WITH YOU.
YOU ARE ENCOURAGED TO CONSULT WITH A QUALIFIED ATTORNEY BEFORE SIGNINGTHIS CONTRACT. BY PROCEEDING WITHOUT THE ADVICE OF A QUALIFIED ATTORNEYYOU COULD LOSE ANY RIGHTS YOU MIGHT HAVE IN YOUR INVENTION.
THE PERFORMANCE OF THE SERVICES DETAILED IN THE CONTRACT PROVIDES NOGUARANTEE OR PROMISE OF PROFITS, OR THAT YOUR INVENTION WILL BEPURCHASED BY A MANUFACTURER.
THIS CONTRACT DOES NOT PROVIDE ANY PATENT, COPYRIGHT OR TRADEMARKPROTECTION FOR YOUR INVENTION.THE PATENT OFFICE DISCLOSURE PROGRAM IS NOT A PATENT APPLICATION PROCEEDING.
YOUR POTENTIAL PATENT RIGHTS MAY BE ADVERSELY AFFECTED BY ANY ATTEMPT TOCOMMERCIALIZE YOUR INVENTION BEFORE A PATENT APPLICATION COVERINGIT IS FILED. NONCONFIDENTIAL DISCLOSURES OF YOUR INVENTION MAYALSO TRIGGER CERTAIN STATUTORY DEADLINES FOR FILING A PATENT APPLICATION INTHE UNITED STATES AND WOULD PREVENT YOU FROM OBTAINING VALID PATENT RIGHTSIN COUNTRIES WHOSE LAWS PROVIDE THAT PATENT APPLICATIONS MUST BE FILEDBEFORE ANY PUBLIC DISCLOSURE."
History: L. 1990, ch. 181, § 2; April 19.