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Product Idea Submission Agreement
Tristar Products, Inc. is a worldwide manufacturer and marketer of consumer products and receives and reviews new product ideas which may include an invention that you think will be of interest to it. We (Tristar) will review your idea to determine if we think that we might want to exploit or use it in some manner, but we want you to understand the following:
- We are not obligated to keep confidential your idea or any of the information that you submit to us.
- Unless you have already protected your idea through mechanisms such as obtaining copyrights, patents, and trademarks, your disclosure to us of the idea will not preclude us from exploiting the idea for our own benefit without compensation to you. To the extent that your idea constitutes intellectual property, it is agreed that in protecting your idea you shall rely solely on your rights under
the patent, trademark, and copyright laws, and that consideration by us of your submission shall in no way impair or limit our right to contest the validity of your patent, trademark or copyright.
- Unless we both jointly enter into a separate written agreement that provides otherwise, we are as free to proceed with respect to any business or arrangement based on your idea that is the same as or similar to the idea submitted by you as we were prior to the submission of your idea to us.
- We have no obligation to compensate you and no agreement for compensation shall be implied by our consideration or review of your idea. You shall not be entitled to any finders, brokerage or similar fees from us in connection with your idea. Under no circumstance will we have any obligation to compensate you for bringing your idea or any of the information submitted to us to our attention.
- This Product Idea Submission Agreement shall be construed and governed by the laws of the State of New Jersey. Any disputes arising hereunder or related to this agreement or to your submission and our review of your product idea shall be exclusively resolved by mandatory, binding arbitration through JAMS in Newark, New Jersey, with one arbitrator, each party to pay its own costs and attorney fees.