I understand that Ideas Trading Center (“ITC”) is an independent facilitator and that it is NOT and will NOT be a party to any business transaction between me, the originator, owner and seller of idea and prospective reviewer(s) and/or buyer of my idea. ITC does NOT promote my idea but simply makes it available to prospective idea reviewer(s) and/or buyer. ITC does NOT evaluate, judge or put a value on my idea, does NOT develop a prototype based on my idea and does NOT check the feasibility of my idea. Prospective reviewers or buyer may independently evaluate my idea. There is no guarantee, whatsoever, that my idea will be reviewed by or sold to a prospective idea reviewer or buyer.
I am the original generator, owner and seller of my idea (intellectual property), and all rights, title and interests of my idea fully belong to me without any deception or false representation.
My idea is new and useful. All information in this Idea Registration Form is true. I have not copied or misappropriate my idea from anybody else’s idea, invention or patent (published or pending). I believe my idea has not been obvious to others.
My idea is a protectable trade secret because it has either actual or potential independent economic value by virtue of not being generally known, has value to others who cannot legitimately obtain the information, and has been subject to reasonable efforts to maintain its secrecy.
My idea is “free & clear.” I have not applied for any patent, trademark or copyright at any intellectual property/patent office, nor I have sold, licensed, pledged or assigned my idea or substantially the same idea to any third party.
My idea has not been described in any printed publication or in public use, has not been on sale, and has not otherwise been available to the public (for example speech, statement made on a radio talk show, a YouTube ™ video, or a website or other on-line materials, oral presentation at a scientific meeting, a demonstration at a trade show or a lecture) before its submission to ITC.
My idea does not involve one or more obvious differences (for example substitution of one color for another or changes in size) over the most nearly similar idea already known; my idea is substantially different from everything that has been used or described before.
I have carefully completed this Idea Registration Form, and I have provided clear information and conducted a spell check and a grammar check. I did not omit or hide any important information about my idea.
My idea does NOT promote human rights restriction or abuse, discrimination, hatred, crime, hate crime, violence, terrorism, narcotics and substance misuse, pornography or suicide.
I agree that, if ITC accepts my idea for registration, the title of my idea and the suggested sales price and review price will be available for review and my idea will be available for sale on ITC’s website within ten (10) business days. I understand and agree that my completed idea Registration Form will be kept in confidence except that a one-page “Summary Description” of my idea will be confidentially disclosed to paying reviewer(s), and the entire idea will be disclosed to the buyer of my idea. I understand that I will receive monetary compensation from ITC for review(s) and/or sale of my idea according to the table shown below within ten (10) business days from the date compensation for such review(s) and/or sales is received by the ITC, at which time my idea will be immediately removed from the ITC website. I agree that ITC will not be responsible or liable if my idea is independently discovered, invented, developed, released or compromised beyond ITC’s control.
I am voluntarily selling my idea at my chosen price exclusively through ITC. I am not under any legal or contractual obligation to sell or not to sell my idea.
The title of my idea is truthful and reflects the totality of my idea.
The Summary Description of my idea is a true representation of the Detailed Description of my idea.
If and when my idea is sold to the first willing buyer (“first come, first served”), I agree to and thereby do grant and assign any and all intellectual and legal rights to my idea and I will no longer have any legal or intellectual rights to my idea, and I will not disclose or transfer my idea to a third party or reduce it to practice or make any commercial or public use of it. The deal will be considered final and an unreturnable business. Further, I agree to comply in a timely manner with any requests by the Buyer to execute any assignment, recordation of assignment, declaration, or any other document necessary to facilitate the transfer of ownership to the buyer, and further agree to cooperate with any requests by the buyer to facilitate the patenting or copyright process.
I agree that I will be responsible for paying any and all due taxes (country/federal, state, local) for any and all monetary compensation that I receive from ITC for the review(s) and/or sale of my idea.
I understand that any willful false statement made in this declaration may be punishable under the laws of the United States of America.