DIRECTION FINDER CONFIDENTIALITY AND SERVICE AGREEMENT
This Agreement is between you (Inventor) and Invention City, Inc., a Massachusetts corporation (Company).
Inventor has an invention or product concept (Invention) and would like to receive ideas on developing and commercializing the Invention from the Company. The Company has experience in the field of commercializing inventions and ideas and is willing to share its ideas with Inventor in return for a fee.
Inventor and Company agree as follows:
1. Inventor will disclose information pertaining to Invention for review (Disclosure). Inventor understands that the value and depth of Company's Response depends partly upon the quality of information provided by Inventor.
2. All knowledge and information regarding Invention shall be considered confidential, and shall not be disclosed or otherwise used by Company for a period of three (3) years from the date of this Agreement without written permission from Inventor.
3. The following information will not be considered confidential:
A. Information which at the time of disclosure is in the public domain; or
B. Information which after receipt by Company becomes part of the public domain by publication or otherwise (but confidentiality ceases only after it becomes part of the public domain); or
C. Information which Company had in its possession at the time it was received from Inventor; or
D. Unsolicited information lawfully received by Company subsequent to disclosure.
4. The Company does not acquire any rights to Invention by this Agreement. The Company is free to use information that is not confidential.
5. The primary means of Disclosure is electronic media. Company is not responsible for harm caused to Inventor by breaches of confidentiality due to use of erroneous email addresses or from hacking, phishing, viruses and other forms of electronic theft and piracy.
6. Within a maximum of 15 days of receipt, Company will review Disclosure and provide Inventor with a written summary of what Company would do with the Invention if Company owned the rights to it (Response). The Response is for reference purposes only and may not be used as a professional opinion. Inventor understands that while the Response will contain Company's honest opinions, it will contain initial thoughts rather than in-depth analysis.
7. The ideas presented in the Response are examples and are not proprietary to Company. Company makes no claim on ideas and does not represent any idea as original or unique. Company may freely share the same ideas with other Inventors. A professional opinion from a qualified authority should be sought if Inventor wishes to incorporate an idea from the Response into the Invention. Company does not guarantee that following the courses of action presented in the response will lead to a desired result.
8. No partnership is created by this Service.
9. Company agrees that Inventor will suffer serious harm if Company does not honor the terms of this Agreement. Therefore, Company agrees that, in addition to any other remedies available to Inventor at law or in equity, it will be subject to the issuance of injunctive relief to enforce this Agreement.
10. Inventor fully understands the meanings and implications of the provisions herein. Inventor has had the opportunity to consult a lawyer before entering into this Agreement. Other than as described in this Agreement, Inventor's rights are as allowed under current United States Patent law.
11. Inventor owns all rights to the Invention AND DISCLOSURE and has full authority to enter into this Agreement.
12. This Agreement is being executed electronically. Inventor signifies acceptance of the terms of this Agreement by making payment to Company via PayPal at the link provided below. This Agreement begins on the date of payment. Upon receipt of payment a confirmation email from Company to Inventor will be sent with this Agreement as an attachment and instructions for Disclosure.
13. This Agreement will be governed by Massachusetts law and all disputes under this Agreement that cannot be settled by the parties themselves will be settled in Barnstable Massachusetts first by meeting with a mediator within one month of notice of the dispute (except for the issuance of an injunction) then, if mediation fails, by arbitration in front of a single arbitrator on an accelerated basis in accordance with the rules of the American Arbitration Association.
14. Upon making Payment Inventor signifies acceptance and understanding of this Agreement.
15. This date of this Agreement is the date that Payment is made to Company by clicking on the icon following the link below.
By clicking on the payment link below I hereby signify acceptance understanding of the terms of this Agreement as of the date hereof:
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