Letter of Unsolicited Idea Acknowledgement : Please fill out the following form. Please print your completed form if you would to have a copy for your records.
Dear (Courtesy title and the last name of the person to be notified),
We appreciate your interest in submitting for our consideration an idea or proposal relative to :
Description of the idea
Our company receives many commercial ideas, suggestions and proposals, and also has many of its own projects under development or consideration. Therefore, it is possible the ideaor proposal you plan to submit to us has been considered and/or may already be in the planning or development stages.
Therefore, we would be pleased to accept your idea or proposal for consideration provided you acknowledge:
1. Samples or other submissions will be returned only if return postage or freight is prepaid.
2. The company accepts no responsibility for casualty or loss to samples or other submitted material in our possession.
3. The company accepts no responsibility for holding any submitted information in confidence, but shall use its best efforts to hold it confidential.
4. The company shall pay compensation only in the event it a) accepts the submitted idea, b) has received the idea only from you, and c) reaches agreement with you as to terms andconditions.
5. Company agrees not to exploit said idea, directly or indirectly, without first entering into a compensation agreement acceptable to you.
6. Nothing in this agreement shall be deemed to give company any rights in the materials submitted.
7. Company shall have no obligation to you in the event this idea or material is presently under consideration by company.
If these terms are acceptable to you, please sign where indicated below and submit with your idea or proposal.
The foregoing terms and conditions are understood and acknowledged this day of (date with year).
In the presence of :
Typical Legal Forms Index
Letter of Unsolicited Idea Acknowledgement
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