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Code · Illinois · Chapter 815 — BUSINESS TRANSACTIONS · Act 620

Sec. 103. Definitions.

279 words·~1 min read·/il/chapter-815/act-620/103

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Sec. 103. Definitions. As used in this Act, unless the context otherwise requires:
(a)"Invention Development Services" shall include at least one of the following:
(1)evaluation of the market potential of an invention; and
(2)representation of an invention to potential distributors or to potential manufacturers of the invention.
(b)"Contract for invention development services" shall include a contract by which an invention developer undertakes to perform invention development services for a customer.
(c)"Customer" shall include any person, firm, corporation, association, or other entity that is solicited by, inquires about or seeks the services of, or enters into a contract for invention development services with an invention developer.
(d)"Invention" shall mean any discovery, process, method, apparatus, machine, design, formulation, composition, product, concept, idea or any combination thereof.
(e)"Invention developer" shall mean any person, firm, corporation, association or other entity and the agents, employees or representatives of such person, firm, corporation, association, or other entity that performs invention development services, except
(1)any department or agency of the federal, state or local government,
(2)any charitable, scientific, educational, religious, or other organization qualified under Section 501(c)(3) or described in Section 170(b)(1)(A) of the Internal Revenue Code of 1954, as amended, or
(3)any person, firm, corporation, association or other entity that does not charge a fee for invention development services. For the purposes of this paragraph, "fee" shall include any payment made by the customer to such entity including reimbursements for expenditures made or costs incurred by such entity but shall not include any payment made from a portion of the income received by a customer by virtue of invention development services performed by such entity.
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