417.406. Contract for invention development services, form, content.

MISSOURI STATUTES AND CODES

417.406. Contract for invention development services, form, content.

Contract for invention development services, form, content.

417.406. Every contract for invention development services shall setforth in at least 10-point boldface type, or equivalent size ifhandwritten, all of the following:

(1) A full and detailed description of the acts or services that theinvention developer undertakes to perform for the customer. To the extentthat the description of acts or services grants the invention developerdiscretion to decide what acts or services are to be performed by theinvention developer, the invention developer shall exercise that discretionto promote the best interests of the customer;

(2) A statement whether the invention developer undertakes toconstruct one or more prototypes, models, or devices embodying thecustomer's invention;

(3) A statement whether the invention developer undertakes to sell ordistribute one or more prototypes, models or devices embodying thecustomer's invention;

(4) The name of the person or firm contracting to perform theinvention development services, the name under which said person or firm isdoing business as an invention developer, and the name of any parent,subsidiary or affiliated company that may engage in performing theinvention development services;

(5) The invention developer's principal business address and the nameand address of his agent in the state of Missouri authorized to receiveservice of process;

(6) The business form of the invention developer, whether corporate,partnership, or otherwise;

(7) If an oral or written estimate of projected customer sales,profits, earnings or royalties is made by the invention developer, thecontract shall state the estimate and the data on which the estimate isbased;

(8) The name and address of the custodian of all records andcorrespondence relating to the performance of the invention developmentservices;

(9) The expected date of completion of the invention developmentservices, whether time is of the essence, and whether the terms includeprovisions in case of delay past the expected date of completion;

(10) The terms and conditions of payment and contract terminationrights as set forth in section 417.412; and

(11) The extent to which the contract effectuates or makes possiblethe acquisition by the invention developer of an interest in the title tothe customer's invention.