Invention Disclosure Agreement
Oak Lawn Marketing International Inc. (hereinafter referred to "OLMI") is anxious to review your invention. However, before doing so, you must be aware of the following OLMI policies regarding the acceptance of information, ideas or inventions. OLMI has and is accepting information, ideas or inventions from many parties that have been developed in the past or are currently in development. Some of these ideas may be similar to your own. In order to avoid any possible future confusion between your ideas and other parties', and to prevent any misunderstanding as to the respective rights and obligations of OLMI and the person making the submission, OLMI's policies regarding the submission of ideas are set forth below:
- 1. Any information, idea or invention disclosed to OLMI is deemed non-confidential and no confidential relationship of any kind is hereby established between OLMI and you. This is because OLMI must disclose your submission to various employees and sometimes even to those outside of OLMI's employ, to determine its value.
- 2. You must submit a full written disclosure as set forth in the [INVENTION SUBMISSION FORM]. Namely, you must provide a copy of your patent or patent application, if filed, including at least the specification, claims, drawings, and known material prior art.
- 3. OLMI assumes no responsibility to return any descriptions, drawings, or other disclosures sent to it and reserves the right to retain or destroy same, as it sees fit. Any prototypes sent to us will not be returned even upon rejection.
- 4. Except for claims of patent infringement, OLMI has the unrestricted right to use and disclose any submitted ideas and inventions.
- 5. Any disclosures to OLMI must be made on the understanding that OLMI will consider the disclosure only so far as, in its judgment, the information, idea or invention merits, and OLMI assumes no obligation to do more than indicate whether or not it is interested. Any disclosure under this agreement does not obligate OLMI to adopt my idea or invention.
- 6. You will receive no compensation or promise of compensation by OLMI prior to the disclosure of any invention or idea.
- 7. The foregoing applies to any additional or supplemental disclosures relating to the same subject matter, by or for you to OLMI.
- 8. Any individual or entity, to which OLMI releases your disclosure or information related thereto, shall be equally free of responsibility to safeguard your interests.
- 9. You have the sole responsibility for protecting your patent rights, if any. OLMI is not financially responsible for filing a patent application on your behalf. Nor is OLMI liable for your failure to seek protection prior to the disclosure of your invention.
- 10. You warrant that you have the unrestricted right to disclose your information, idea or invention to OLMI and/or dispose of it, and that you are of legal age and otherwise competent to enter into the agreements contained in this Disclosure Agreement.
- 11. This Disclosure Agreement constitutes the entire understanding and agreement with respect to the submission.
- 12. No deviation from the foregoing shall be effective except by a written agreement.