|SB 0088||Invention Development Services Regulation|
|Last Action:||02/21/95 - Bill Combined w/SCS/SB 80 & 88|
|Title:||SCS/SB 80 & 88|
|Effective Date:||August 28, 1995|
SB 88 - This act would provide for state regulation of persons who assist a customer in developing an invention.
Under this act, an invention developer must make certain disclosures to customers regarding the developer's fees and services provided, statements regarding confidentiality, statistics on past clients, and a statement urging the customer to seek the counsel of an attorney or agent registered to practice before the United States Patent and Trademark Office.
Guidelines for specific information to be included in the invention development services contract, as well as mandatory language for a cover sheet are also given. An option to terminate the contract is given until payment for invention development services is made, and no payment can be made for seven days.
Maintenance of a $25,000 bond is required of developers who have had judgment entered against them was based on allegations of fraud or deception.
Negotiable instruments, other than checks, are not to be used as a form of payment. Holders of negotiable instruments which were taken in violation of this act are denied holder in due course status, which would protect their claims to payment as against a third party.
Records relating to invention development service contracts shall be maintained for at least three years and be made available to the customer for review.
Contracts in violation of this act are contrary to public policy and are void and unenforceable. An invention developer who violates any provision of this act is civilly liable, up to twice the amount of damages sustained together with attorney's fees. Punitive damages may be awarded if malice is found. A civil penalty of up to $5,000 for each violation may be recovered upon a successful suit by the Attorney General.
The confidential relationship between the customer and the invention developer is defined, and may be waived by the customer only by an express written waiver entered into after all disclosures have been made to the customer. The developer is required to report the status of the contract to the customer at least quarterly.
This act is not exclusive.
SA 1 - TECHNICAL AMENDMENT DELETING REDUNDANT LANGUAGE. SA 2 (MCKENNA) - THIS AMENDMENT MODIFIES SECTION 644.031, RSMO, AND STATES THAT MONEYS APPROPRIATED TO THE DNR CLEAN WATER COMMISSION MAY BE USED TO FUND A COMPREHENSIVE STORM WATER CONTROL PLAN OR STUDY. SA 3 & SA 1 TO SA 3 (WESTFALL & MCKENNA) - THIS AMENDMENT CONTAINS THE LANGUAGE FROM SCS/SB 359 WITH SMALL MODIFICATIONS REGARDING ELIGIBLE COUNTIES. SA 4 (GOODE) - THIS AMENDMENT CONTAINS THE LANGUAGE FROM HCS/HB 223. SA 6 (KENNEY) - THIS AMENDMENT MODIFIES THE NOTICE REQUIREMENTS FOR ANNEXATION BY A PUBLIC WATER SUPPLY DISTRICT. THE AMENDMENT CONTAINS LANGUAGE FROM HB 713.