CONTRACT

WHY WE NEED A CONTRACT

A contract clearly defines what we expect of each other: the process, deliverables and charges, and our
mutual responsibilities. Clear agreements now can simplify our lives later, especially when equity in the
product's future is involved. If this becomes
that proverbial "million-dollar product", we want to remain
friends...! Below is a sample of the contract; or download a pdf copy for reference. Once you've chosen
us for the project, we'll prepare
a formal agreement for us both to sign.

SGELOGO-V4.jpg

 

CONTRACT FOR PRODUCT CONCEPT MODELING

 

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

and the client _________________ (Client) according to the following terms and conditions.

SCOPE OF WORK  

SERVICES              SGE will develop a representative 3D computer model of Client's product concept,

                                for illustration and presentation purposes, including:

                               1  feasibility review of Client’s product idea and concepts, in written and/or illustrated form

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

                               3  creation of one (1) 3D CAD (virtual prototype) model of chosen embodiment

                               4  preparation of no fewer than three (3) photorealistic rendered images

DELIVERABLES     After receipt of signed acceptance of contract and retainer, according to contract terms, SGE will provide:

                                1  three or more rendering files in <*.jpg> presentation format 

                                2  one (1) 3D CAD model geometry file in <*.dxf> and <*.igs> formats

                                3  illustrated presentation page with written descriptions

FEES                       1  Signed acceptance of this contract signifies that Client agrees to pay SGE the full amount of ($$ TBD),

                                    in fees and/or establish equity ownership share in the final product's future earnings.

                                2  Client shall pay SGE a retainer fee ($$ TBD) at time of contract signing.

​                                3  Upon approval of proposed embodiment, Client agrees pay SGE a progress fee ($$ TBD) .

                                4  Upon acceptance of low-resolution product images, Client agrees to remit to SGE any and all balances                                          due. Upon our receipt of final payment(s), the completed submittal package, including deliverables

                                    as described above, will be made available for download. 

AGREEMENTS        1  On behalf of Client, SGE hereby agrees to develop one (1) product embodiment, [product name],

                                    a device for the purpose of: [product description]. See "DELIVERABLES", above.

 

                                2  Client agrees to pay SGE all fees and/or establish SGE equity, as described above; see "FEES". Payments                                       to be made in US Dollars, by PayPal invoice, approved credit card, or other mutually agreed-upon means.

   

                                3  The Inventor and SGE hereby agree that in the case of Client's proprietary concepts, Client shall                                                      retain ownership and all rights to any existing and developed materials and content, and that the 

                                    [product name] concept remains the sole property of Client. Any exceptions shall be noted.  

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

                               5  Client 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, including but not limited to, work product,                                                 designs, prototypes, or incidental goods furnished by Client or SGE. This obligation applies without

                                   limitation, to Claims of Client and any employee, present or future lessee or purchaser of Client’s

                                   goods or services, invitee, or any third party or agent designated by Client in connection with this project.