Invention Development Services Act

The Invention Development Services Act regulates firms that offer, for a fee, to help inventors develop, patent, promote, or market their inventions. It requires such firms to make specified disclosures to a prospective customer before an agreement is entered into, to use written contracts meeting defined requirements, to demonstrate financial responsibility, and to maintain records of their dealings and correspondence with customers; it also restricts the use of negotiable instruments in these transactions. Violations carry penalties, and the act operates alongside rather than in place of other applicable law.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.