Meet Our Client

and their problem

Company

IX

Innovators

Challenge

$$$

$$$

Company

IX

Teams

Challenge

$$$

Challenge

$$$

Innovations

Negotiated IP Transfer

Innovation Brief
posted with
SUCCESS FEE
 

Company reviews proposals (anon)
60 day exclusivity
(can be extended)

Company + Team AGENT negotiate
Company responsible
for verifying team
rights to iP

Innovators form teams (per TEAM RULES)

 

Company selects proposal(s)
 

Solution Transfer Agreement (Success Fee or more; IX escrow)
OR NOT (Team has rights to use proposal)

Teams submit proposals to IX
Teams retain IP
 

IX provides verified ID and contact info for selected
 

IX approves agreement (TEAM RULES) and releases payments to team members

Automatic IP Transfer

Innovation Brief posted with SUCCESS FEE
and NOTICE OF AUTOMATIC IP TRANSFER

Company reviews proposals (anon)

 

Automatic IP Transfer
IX escrow of Success Fee Company responsible
for verifying team
rights to iP

Innovators form teams (per TEAM RULES)

 

Company selects proposal(s)
 

Teams submit proposals to IX
Teams retain IP
 

IX provides verified ID and contact info for selected
 

IX approves agreement (TEAM RULES) and releases payments to team members

Team Rules (User Agreement)

1. Active registration (valid contact, compliance with system use agreement.
2. Team designation = equal shares, designated leader
3. No ownership claims in other proposals without team designation.
4. Only leaders can add members.
5. No team changes or dropped members.
6. Team leader authorized as agent for all team members.
7. Solution transfer agreement not binding unless approved by IX to provide equal shares.
8. Team notification of solution transfer agreement prior to approval; opportunity to object.

IX's Problem

Two Contracts

• User (Innovator) Agreement : 10 pages -- online terms of service
• Sponsor (Company) Agreement: 10 pages + 1 exhibit -- fees

OBSERVATION: Company contract is too long, boring, and confusing to chief innovation officers (the customer). 

INSIGHT: Company contract is killing deals and killing IX