66-209. Definitions. As used in this Article, the following terms shall have the meanings given: (1) "Contract" or "contract for invention development services" means a contract by which an invention developer undertakes invention development services for a customer for a stated payment or consideration, whether or not the payment or consideration has yet been made. […]
66-210. Disclosures made prior to contract. In either the first written communication from the invention developer to a specific customer, or at the first personal meeting between the invention developer and a customer whichever may first occur, the invention developer shall make a written disclosure to the customer of the information required in this section […]
66-211. Standard provisions for cover notice. (a) A contract for invention development services must have a conspicuous and legible cover sheet attached. The cover sheet must set forth: (1) The name, home address, office address, and local address of the invention developer; and (2) The following notice printed in bold-faced type of not less than […]
66-212. Contracting requirements. (a) Each contract for invention development services by which an invention developer undertakes invention development services for a customer is subject to this act. The contract must be in writing and the invention developer shall give a copy of the contract to the customer at the time the customer signs the contract. […]
66-213. Mandatory contract terms. (a) A contract for invention development services shall set forth the information required in this section in at least 10-point type or equivalent size if handwritten. (b) The contract shall describe fully and in detail the acts or services that the invention developer contracts to perform for the customer. (c) The […]
66-214. Financial requirements. (a) Except as provided by subsection (c) of this section, each invention developer doing business in this State as defined by the North Carolina General Statutes shall maintain a bond issued by a surety company authorized to do business in this State. The principal sum of the bond must be at least […]
66-215. Remedies. (a) Any contract for invention development services that does not substantially comply with this Article is voidable at the option of the customer. A contract for invention development services entered into in reliance on any false, fraudulent, or misleading information, representation, notice, or advertisement of the invention developer is voidable at the option […]
66-216. Enforcement. The Attorney General shall enforce this Article and may recover a civil penalty not to exceed twenty-five thousand dollars ($25,000) for each violation of this Article and may seek equitable relief to restrain the violation of this Article. The clear proceeds of civil penalties provided for in this section shall be remitted to […]
