CONTRACT

WHY WE NEED A CONTRACT

Our contract clearly defines the what we can expect of each other, the deliverable, and our agreements and mutual responsibilities. In the event that your product becomes a huge success, the contract guarantees and assures me of my continued equity position. Having been a designer for over 40 years, with several of my product concepts licensed under royalty agreements, and one invention patented, I can testify that for those working on shared product inventions, clear agreements now can simplify life for everyone later, especially when this becomes that proverbial "million-dollar product" !

 

Below is a sample of the contract, provided for reading now, or you can download

the generic form in PDF format. Once we've agreed to work together, I'll generate

and submit an filled-in agreement for us both to sign.

 

 

CONTRACT FOR PRODUCT CONCEPT MODELING

 

This Contract for Product Concept Modeling is entered into this date:   ____________, between SGEDESIGNS Inc. ("SGE")

and client/inventor of concept _________________ ("Inventor") according to the following terms and conditions.

 

SCOPE OF WORK  

 

SERVICES              SGE will develop a representative 3D computer model of the Inventor’s product concept for

                               illustration and presentation purposes, including:

                               1  review of Inventor’s product idea and concepts, in written or illustrated form

                               2  determination of one (1) proposed embodiment for building the 3D model

                               3  creation of one (1) 3D model of chosen embodiment

                               4  preparation of two (2) photorealistic rendered images

DELIVERABLES     After receipt of signed contract acceptance and fees, within time period to be specified, SGE will provide:

                               1  no less than two (2) image files in <*.jpg> presentation format 

                               2  one (1) 3D CAD model geometry file in <*.3ds> format

                               3  illustrated presentation page with written descriptions

 

FEES                       1  Upon signed acceptance of this contract Inventor shall pay SGE an advance fee TBD of [   $   ]

                                    US Dollars, by PayPal invoice or approved credit card.

                               2  Upon client approval of final design and low-resolution images, Inventor agrees to place into equity all

                                   payment balances due according to this contract. The completed submittal package, including all             

                                   deliverables as described above, will then be available for download. 

 

AGREEMENTS        1  SGE hereby agrees to develop one (1) product concept on behalf of the Inventor, herein named:

                                    [product name], a device for the purpose of: [product description].

 

                               2  The Inventor agrees to pay SGE the advance fees (see "FEES Item 1", above) at contract signing,

                                   and all balances due and owing (see "FEES Item 2", above), when work has been completed and

                                   accepted. Payments to be made using PayPal, or other mutually agreed-upon means.

                               3  The Inventor and SGE hereby agree that the Inventor shall retain ownership and all rights to the

                                    Inventor’s existing and developed materials and content, and that the [product name] concept is

                                    the sole property of Inventor.  

 

                               4  SGE grants Inventor a worldwide perpetual license to the [product name], for purposes of reproducing,                                       distributing, or modifying the provided designs, drawings, and CAD geometry.

                               5  Inventor hereby represents and warrants to indemnify, defend and hold SGE and its directors,

                                   officers, employees, and agents harmless from and against all Claims for illness, injury, property

                                   damage, and loss (including loss of use and loss of profits), actual or alleged, that may arise out

                                   of or in connection with this Agreement or the Services, work product, designs, prototypes, and

                                   incidental goods furnished or to be furnished to Inventor by SGE. This obligation shall apply,

                                   without limitation, to Claims of Inventor and any employee, invitee, or agent of Inventor, of any

                                   lessee or purchaser of Inventor’s goods or services and of any third party.