§ 66-211. Standard provisions for cover notice. - North Carolina Statutes

§66‑211.  Standard provisions for cover notice.

(a)        A contract forinvention development services must have a conspicuous and legible cover sheetattached.  The cover sheet must set forth:

(1)        The name, homeaddress, office address, and local address of the invention developer; and

(2)        The following noticeprinted in bold‑faced type of not less than 10‑point size:

                  THIS CONTRACTBETWEEN YOU AND AN INVENTION DEVELOPER IS REGULATED BY ARTICLE 29 OF CHAPTER 66OF THE GENERAL STATUTES OF THE STATE OF NORTH CAROLINA.  YOU ARE NOT PERMITTEDOR REQUIRED TO MAKE ANY PAYMENTS UNDER THIS CONTRACT UNTIL FOUR WORKING DAYSAFTER YOU SIGN THIS CONTRACT AND RECEIVE A COMPLETED COPY OF IT.

                  YOU CANTERMINATE THIS CONTRACT AT ANY TIME BEFORE YOU MAKE PAYMENT.  YOU CAN TERMINATETHIS CONTRACT SIMPLY BY NOT SUBMITTING PAYMENT.

                  IF YOU ASSIGNEVEN A PARTIAL INTEREST IN THE INVENTION TO THE INVENTION DEVELOPER, THEINVENTION DEVELOPER MAY HAVE THE RIGHT TO SELL OR DISPOSE OF THE INVENTIONWITHOUT YOUR CONSENT AND MAY NOT HAVE TO SHARE THE PROFITS WITH YOU.

                  THE TOTALNUMBER OF CUSTOMERS WHO HAVE CONTRACTED WITH THE INVENTION DEVELOPER SINCE ___(year)_____ IS _(number)___.  THE TOTAL NUMBER OF CUSTOMERS KNOWN BY THIS INVENTIONDEVELOPER TO HAVE RECEIVED BY VIRTUE OF THIS INVENTION DEVELOPER'S PERFORMANCE,AN AMOUNT OF MONEY IN EXCESS OF THE AMOUNT PAID BY THE CUSTOMER TO THISINVENTION DEVELOPER IS __(number)_____.

                  YOU AREENCOURAGED TO CONSULT WITH A QUALIFIED ATTORNEY BEFORE SIGNING THIS CONTRACT. BY PROCEEDING WITHOUT THE ADVICE OF A QUALIFIED ATTORNEY YOU COULD LOSE ANYRIGHTS YOU MIGHT HAVE IN YOUR IDEA OR INVENTION.

(b)        The inventiondeveloper shall complete the cover sheet with the proper information to beprovided in the blanks.  In the first blank the invention developer shall enterthe year that the invention developer began business, or January 1, 1990,whichever is earlier.  The numbers entered in the last two blanks need notinclude those who have contracted with the invention developer during the 30days immediately preceding the date of the contract.  If the number to beinserted in the third blank is zero, it must be so stated.

(c)        The cover noticemay not contain anything in addition to the information required by subsection(a) of this section. (1989, c. 746, s. 1; c. 770, s. 62.1(1)‑(3);1991, c. 235, s. 1.)