Virginia Code 59.1-211: Interest in inventions prohibited
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No invention developer shall acquire any interest, partial or whole, in the title to the customer‘s invention or patent rights, unless the invention developer contracts to manufacture the invention and acquires such interest for such purpose at or about the time the contract for manufacture is executed. Nothing in this section shall be construed to prohibit an invention developer from receiving a portion of any proceeds accruing to the customer as a result of performance of invention development services by the invention developer.
Terms Used In Virginia Code 59.1-211
- Contract: A legal written agreement that becomes binding when signed.
- Customer: means any person, firm, partnership, corporation, or other entity that enters into a contract for invention development services with an invention developer. See Virginia Code 59.1-208
- Invention: means a discovery, process, machine, design, formulation, product, concept or idea or any combination thereof. See Virginia Code 59.1-208
- Invention developer: means any person, firm, partnership, corporation, and any agent, employee, officer, partner or independent contractor thereof, that advertises invention development services in media of general circulation or that contracts with customers procured as a result of such advertisement. See Virginia Code 59.1-208
- Invention development: means the evaluation, perfection, marketing, brokering, or promotion of an invention by an invention developer, including a patent search, preparation of a patent application, or any other act done by an invention developer for consideration toward the end of procuring or attempting to procure a license, buyer or patent for an invention, but shall not include those acts undertaken by attorneys in the practice of their profession, other persons duly registered to practice before the U. See Virginia Code 59.1-208
1977, c. 649.