Agreements relating to unpatented ideas and inventions are subject to the general rules applicable to contracts. The idea or invention cannot be protected by merely labeling the right to it as being a "property right." It is essential to adequately describe the idea or invention.
Agreement for Exhibition of Unpatented Invention to Prospective Purchaser or Licensee
State:
Multi-State
Control #:
US-01631BG
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Agreement For Exhibition Of Unpatented Invention To Prospective Purchaser Or Licensee?
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FAQ
The title of the invention. The inventor's name, address, and phone number. When and how you thought of the invention. Date of the actual reduction to practice (this may be the same as the date of invention) Date of public disclosure of the invention.
An exclusive license agreement covers a license that is limited to a specific field or subject, such as a market, territory, length of time, or context.The licensor can issue an unlimited number of licenses that have different rights within the same field, or licenses with the same rights in a different field.
If you determine that the invention is probably not patentable, the most effective way to protect yourself is to have prospective licensees sign a nondisclosure agreement before you reveal your invention. This document is sometimes called an "NDA" or a "confidentiality agreement," but the terms are similar.
You can sell your invention idea, or you can outright sell the invention itself for one large lump sum as compensation for your idea. The second option is to enter a licensing agreement. You would collect royalties each time your product is sold.
How do I protect my idea? Copyright does not protect ideas, concepts, systems, or methods of doing something. You may express your ideas in writing or drawings and claim copyright in your description, but be aware that copyright will not protect the idea itself as revealed in your written or artistic work.
Copyright is automatic. Copyright does not last forever and can expire after a certain time.
Keep in mind that you are explaining the invention to the corporation for the first time. Be clear and use a step-by-step approach when pointing out how the product works. Emphasize how your invention will appeal to the company's customers. Explain why customers will be motivated to buy the product.
Keep a Written Record of Your Invention. Record every step of the invention process in a notebook. Make Sure Your Invention Qualifies for Patent Protection. Assess the Commercial Potential of Your Invention. Conduct a Thorough Patent Search. Prepare and File an Application With the USPTO.
Compose a description of your invention. Apply for a patent. Take photographs of your invention. Sign and date the proposal and ask two witnesses to co-sign the document.