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)
- Active registration (valid contact, compliance with system use agreement.
- Team designation = equal shares, designated leader
- No ownership claims in other proposals without team designation.
- Only leaders can add members.
- No team changes or dropped members.
- Team leader authorized as agent for all team members.
- Solution transfer agreement not binding unless approved by IX to provide equal shares.
- 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