Company Idea Ownership Agreement

Summary

A release agreement for a brainstorming session should include clauses on intellectual property rights, confidentiality, and participant agreement. Sample language can specify that all ideas are the companys property and outline monetary compensation if the company uses a participants idea. The agreement should also summarize the parties and describe the session, such as a Shark Tank-style format where participants pitch business opportunities. Always consult a local attorney to ensure the language fits your specific needs.

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can you provide me with some sample language
Sure, I can provide you with a general idea. However, remember, it's always best to consult with a local attorney.
"Participant acknowledges that all ideas, concepts, and materials arising from the brainstorming session are the sole property of the Company. Participant agrees to maintain confidentiality of all proprietary information shared during the session."
what about language saying that monetary compensation will be provided if the company uses a participant's idea
Sure, here's a general idea of how such a clause could be structured: "If the Company implements any ideas or concepts presented by the Participant, the Participant shall receive appropriate monetary compensation as determined by the Company." Please consult with a local attorney to ensure the language fits your needs.
what about sample language for the beginning of the agreement that summarizes the parties and the brainstorming session
Sure, here's a general idea: "This Agreement is entered into this day of [Date] between [Company Name], herein referred to as the 'Company', and [Participant's Name], herein referred to as the 'Participant'. This Agreement pertains to the brainstorming session scheduled on [Date] at [Location]." Please consult a local attorney to ensure it fits your needs.
i want it to describe the brainstorming session a bit more specifically
Could you please provide more details about the brainstorming session? For example, what will be the topics, what is the expected outcome, and who will be the participants? This information will help to draft a more specific introduction.
it's a shark tank style session where employees and outside individuals come to pitch ideas about the business, things they believe could turn into a new business opportunity for the company in the future
Sure, here's a general idea: "The brainstorming session, herein referred to as 'the Session', will be conducted in a 'Shark Tank' style format. Participants, including employees and external individuals, will pitch ideas related to potential business opportunities for the Company. The Company aims to uncover innovative concepts that could drive future growth." Please consult a local attorney to ensure this language fits your needs.