Leximax
Well-Known Member
- Joined
- Nov 8, 2017
- Messages
- 1,519
- Likes
- 1,092
Twitter is probably it...plus, Im largely a corporate attorney. Im not sure how much help I can be.
I don't have twitter. And it is a corporate type question. I guess I will just lob it in here.
So the company I work for is being bought. We get paperwork today that we are required to sign basically saying we keep our same job, same pay, same benefits, etc. HOWEVER, there's this one part that I am reluctant to sign.
A. Inventions Retained and Licensed. I have attached hereto as Exhibit A, a list describing all inventions, discoveries, original works of authorship, developments, improvements, and trade secrets, which were conceived in whole or in part by me prior to my employment with the Company to which I have any right, title or interest, which relate to the Companys business, products, or research and development (Prior Inventions); or, if no such list is attached, I represent and warrant that there are no such Prior Inventions. Furthermore, I represent and warrant that the inclusion of any Prior Inventions from Exhibit A of this Agreement will not materially affect my ability to perform all obligations under this Agreement. Except for those cases wherein I enter into agreement(s) with the Company regarding use of such Prior Invention in exchange for compensation, if, in the course of my employment with the Company, I incorporate into or use in connection with any product, process, service, technology or other work by or on behalf of Company a Prior Invention, I hereby grant to the Company a nonexclusive, royalty-free, fully paid-up, irrevocable, perpetual, worldwide license, with the right to grant and authorize sublicenses, to make, have made, modify, use, import, offer for sale, and sell such Prior Invention as part of or in connection with such product, process, service, technology or other work and to practice any method related thereto.
B. Changes to Inventions Retained and Licensed. If the business of the Company expands into areas which would result in expanding my list of Prior Inventions, then I will notify the Company within thirty days of my learning of such change in status by updating and providing Exhibit A to the President along with written notice if such change materially affects my ability to perform all obligations under this Agreement.
C. Assignment of Inventions. I agree that I will promptly make full written disclosure to the Company, will hold in trust for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title, and interest in and to any and all inventions, original works of authorship, developments, concepts, improvements, designs, discoveries, ideas, trademarks or trade secrets, whether or not patentable or registrable under patent, copyright or similar laws, which I may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time I am in the employ of the Company (including during my off-duty hours), or with the use of Companys equipment, supplies, facilities, or Company Confidential Information, except as provided in Section 2.F below (collectively referred to as Inventions). I further acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the scope of and during the period of my employment with the Company and which are protectable by copyright are works made for hire, as that term is defined in the United States Copyright Act. I understand and agree that the decision whether or not to commercialize or market any Inventions is within the Companys sole discretion and for the Companys sole benefit and that no royalty or other consideration will be due to me as a result of the Companys efforts to commercialize or market any such Inventions.
I read it as while I am employed here if I invent something or write a book or whatever, on my own time and unrelated to anything here, THEY own it. Am I reading it wrong?
I don't have twitter. And it is a corporate type question. I guess I will just lob it in here.
So the company I work for is being bought. We get paperwork today that we are required to sign basically saying we keep our same job, same pay, same benefits, etc. HOWEVER, there's this one part that I am reluctant to sign.
A. Inventions Retained and Licensed. I have attached hereto as Exhibit A, a list describing all inventions, discoveries, original works of authorship, developments, improvements, and trade secrets, which were conceived in whole or in part by me prior to my employment with the Company to which I have any right, title or interest, which relate to the Companys business, products, or research and development (Prior Inventions); or, if no such list is attached, I represent and warrant that there are no such Prior Inventions. Furthermore, I represent and warrant that the inclusion of any Prior Inventions from Exhibit A of this Agreement will not materially affect my ability to perform all obligations under this Agreement. Except for those cases wherein I enter into agreement(s) with the Company regarding use of such Prior Invention in exchange for compensation, if, in the course of my employment with the Company, I incorporate into or use in connection with any product, process, service, technology or other work by or on behalf of Company a Prior Invention, I hereby grant to the Company a nonexclusive, royalty-free, fully paid-up, irrevocable, perpetual, worldwide license, with the right to grant and authorize sublicenses, to make, have made, modify, use, import, offer for sale, and sell such Prior Invention as part of or in connection with such product, process, service, technology or other work and to practice any method related thereto.
B. Changes to Inventions Retained and Licensed. If the business of the Company expands into areas which would result in expanding my list of Prior Inventions, then I will notify the Company within thirty days of my learning of such change in status by updating and providing Exhibit A to the President along with written notice if such change materially affects my ability to perform all obligations under this Agreement.
C. Assignment of Inventions. I agree that I will promptly make full written disclosure to the Company, will hold in trust for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title, and interest in and to any and all inventions, original works of authorship, developments, concepts, improvements, designs, discoveries, ideas, trademarks or trade secrets, whether or not patentable or registrable under patent, copyright or similar laws, which I may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time I am in the employ of the Company (including during my off-duty hours), or with the use of Companys equipment, supplies, facilities, or Company Confidential Information, except as provided in Section 2.F below (collectively referred to as Inventions). I further acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the scope of and during the period of my employment with the Company and which are protectable by copyright are works made for hire, as that term is defined in the United States Copyright Act. I understand and agree that the decision whether or not to commercialize or market any Inventions is within the Companys sole discretion and for the Companys sole benefit and that no royalty or other consideration will be due to me as a result of the Companys efforts to commercialize or market any such Inventions.
I read it as while I am employed here if I invent something or write a book or whatever, on my own time and unrelated to anything here, THEY own it. Am I reading it wrong?
Thats a fairly standard employment clause but Ive never seen one that broadly reaching. Give me tonight to read back through it when Im not on my phone. I can see your reluctance to sign when it seemingly extends to your work product conceived in your own time. What state are you in? Legal disclaimer: were not establishing any sort of attorney-client relationship. Any thing I say to you is merely friendly advice on a message board.
I am in KY. The purchasing company is based in British Columbia. I just don't see why they would have language in there regarding stuff I might do on my own time. Lots of people have outside interests and make some money doing it. It seems to take ownership of anything regardless of whether it relates to the work I do here or not.
Theres probably a choice of law provision near the end of the agreement that states which jurisdictions law governs the terms of the contract. Youd be best-served finding an attorney versed in whatever states law is controlling
There is. California. I am pretty sure I am overthinking the whole thing and the chances of there being a problem are very slim. I just can't help feeling like I am being taken advantage of.
Yeah I couldnt even begin to posit advice without researching the law of both Kentucky and California. Its possible its not even enforceable if governing law is that continued employment isnt sufficient consideration. You should get real legal advice from an attorney licensed in the relevant jurisdiction(s). Wish I could be more helpful!
