How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask socrateaser Your Own Question
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 37850
Experience:  Retired (mostly)
Type Your Business Law Question Here...
socrateaser is online now
A new question is answered every 9 seconds

I signed a representation agreement for a invention. There

This answer was rated:

I signed a representation agreement for a invention. There is a paragraph in the agreement that states.
Invention Resource International shall not be entitled to any compensation whatsoever if the licensee or purchaser shall be discovered or located solely by the effort of the client. In such event, all rights in the concept immediately and automatically revert and transfer to client and this agreement will be terminated.
After some research and trying to find my own deal. I found that Invention Resource Int. has had a lot of unhappy clients.
I have contacted a similar company. The word solely is my only worry. Can I use another company to find me a licensing deal ?
The phrase "...solely by the effort of the client." suggests that you cannot hire any other agent to represent you in obtaining a licensee or purchaser of your invention. The clear intent of the phrase is to permit the client to "personally" locate a potential client, without obligation to IRI -- but, not through any other agent.

I realize that this is not what you want to read, however, I am trying to objectively interpret the legal text that you provide, and that is my interpretation. There may be some other way out of the deal -- maybe if you can show that IRI does nothing with your invention over the next six months or so, that this would demonstrate a lack of good faith effort, and thus grounds to rescind the agreement as either a misrepresentation or a mistake.

Hope this helps.

NOTICE: My goal here is to entertain while educating the public about the law. I hope my answer is useful and informative to you. During our conversation, the website may ask you to rate my answer. If you rate my answer lower than the middle rating, then the website retains your entire payment, and I receive nothing. It is entirely your choice as to how you rate my answer. However, because your payment to me is in the nature of a donation/gift, rather than as compensation for any services rendered, you are entitled to know how your rating affects the final distribution of your donation.

If you need to contact me again, please put my user id at the beginning of your question ("To Socrateaser"), and the system will send me an alert. Please Click the following link for IMPORTANT LEGAL INFORMATION. Thanks and best wishes!

socrateaser and 3 other Business Law Specialists are ready to help you

Related Business Law Questions