PBE’s Unsolicited Idea Submission Policy

Product Idea Submission

Principle Business Enterprise (PBE) appreciates interest of outside inventors in approaching the company about their ideas. Research and Development is essential to company’s future success. Company’s intellectual property portfolio is generated through in-house innovation and licensing. PBE receives many product suggestions with some very similar to and some actually overlapping in-house developments of the company. To protect interest of both the company and outside inventors, PBE has developed a policy for idea submission outlined herein:

Only non-confidential information shall be provided when submitting your idea. We will attempt to review the submitted idea within six to eight weeks from receipt. If your idea passes the screening process, we will inform you accordingly.

Please note that published patents and patent applications are public domain information. In order to protect rights of both you and PBE, you will be allowed to submit your idea only if you agree to the terms below. You can print out a copy of these terms, sign the agreement and submit the agreement along with your submission. No submission will be evaluated without the company first receiving a signed copy of this agreement.

Dear Submitter:

This letter outlines PBE’s policy regarding the acceptance of new product ideas submitted from outside sources. Please do not submit confidential or proprietary information. The only legal protection applicable to your non-confidential disclosure is that provided by patent, trademark and copyright laws, which you are expected to secure on your own.

In order to protect the rights of both parties, the terms under which we agree to accept the submission are as follows:

• In order to record the date of receipt of an idea and its content, we will accept only written submissions related to the idea.
• We will consider your idea with the understanding that the idea is not submitted to us in confidence. We will be under no obligation to return your submission to you.
• By prescreening your idea, we can determine whether or not it is likely to be useful for the company and whether or not it is similar or identical to ideas and products already known to the company.
• Neither you nor the company assumes any obligation by submitting or considering the idea.
• You will not be granting any rights to the company under any patents, trademarks, copy rights or any intellectual property right you now or may later own or control relating to the idea by submitting your idea to us for evaluation.
• If we are interested in your idea, we will consider signing a Confidentiality Agreement with you before further discussion.
• You will remain free to offer the submitted idea to others until we enter into an agreement with you that limits or prohibits such activities.