The “Extent of Commitment” field could vary significantly as some companies may agree to help develop the product all the way to market while others may simply agree to put together a prototype prior to development. Customize to fit your situation.
NOW, THEREFORE, In consideration of the mutual covenants and promises made by the parties hereto, the Company and the Inventor (individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows: