I went in on a deal with one of my friends and paid most of the required money to create an item he invented. I wrote out the terms of the agreement listing the amount I am owed once the patent is either sold to a buyer or sold with a percentage of the profit each time the item is sold. I received a copy of an agreement form the patent company which have fill in spots to be filled out and signed by the investor and inventer. I retyped the form with all the information regarding our agreement but am not sure if this agreement would be enough if brought to a courtroom. I would like to find out if agreement papers need to be notarized or if I should have an attorney write up an agreement form. Also what other sort of documents should I get if the terms are not kept and I'm not paid per the terms of the agreement?
2007-12-01 18:09:23 · 2 answers · asked by lamesadirect1 2 in Politics & Government ➔ Law & Ethics
You should pay an attorney to write the agreement for you. Get one that specializes in trademarks, otherwise you will be paying extra for him to research what he doesn't know. His inexperience might end up costing you money.. Yes, the agreement should be notarized. You will be entitled to records proving how much they owe you, and can sue if they do not live up to the agreement.
2007-12-01 18:15:31 · answer #1 · answered by lcmcpa 7 · 4⤊ 0⤋
All agreements & contracts between an inventor and investor should ALWAYS be done with and by an attorney in the event that there is any discrepencies or breach of contract. This protects you and your partner. Also you will both need to complete the patent/copyright forms with your attorney(s) as well. Never copy or retype legal documents. Always use original forms.
2007-12-01 18:17:21 · answer #2 · answered by Debra H 1 · 1⤊ 0⤋