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socrateaser
socrateaser, Attorney
Category: Business Law
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Experience:  Retired (mostly)
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I signed a representation agreement for a invention. There

Resolved Question:

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 ?
Submitted: 1 year ago.
Category: Business Law
Expert:  socrateaser replied 1 year ago.
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.

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socrateaser, Attorney
Category: Business Law
Satisfied Customers: 34375
Experience: Retired (mostly)
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