Getting Your Ducks in A Row...When Rolling out a New Product/Process

According to a new White House report, Making in America: U.S. Manufacturing Entrepreneurship and Innovation, (June 2104) new game-changing technologies are reducing the cost, increasing the speed, and making it easier for entrepreneurs and manufacturers to translate new ideas into products Made in America. These new technologies are already having an impact, with the growth rate in manufacturing at its fastest pace in over 20 years. 

Texas seems to be leading the comeback. Forbes magazine recently ranked Houston as the No. 1 city for manufacturing jobs, while San Antonio comes in at No. 4.  As production continues to climb with the birth of new innovation the proper use of agreements and contacts becomes vitally important to the overall health and wellbeing of the company.  This talk will focus on the contracts and agreements needed to protect important research and development as well as those needed when taking the finished product to market.

I. EXAMPLES OF CONTRACTS AND TERMS

Sample contracts of some currently used in the process and manufacturing industry, for which the topic discussed in this paper could be relevant, will be briefly described. The chosen examples are not intended to present all technologies; but are merely intended to illustrate current terms now in use for manufacturing and process related operations.  To include: secrecy agreement, employee contracts, sales contracts, licensing and distributor agreements and the like.

II. SHORTFALLS OF IMPROPER AGREEMENTS

News and trade publications are full of stories of lost innovation.  Whether the loss occurs from inside the company, outside the company or even from foreign sources, the proper agreements can greatly benefit the company as a deterrent or  they can provide a stronger position in court proceedings.  These instances of adversity can also be a  learning opportunity, to help us better protect the birth and creation of new technologies and the bringing to market of these new innovations. 

 III. CONCLUSION

History proves that after every major court battle pertaining to the innovation and marketing of new technologies there has been a flood of new agreements and safe guards put into place in hopes of preventing a reoccurrence of the same.  Protecting new intellectual property is becoming increasingly important for the developers in this highly competitive International industry. U.S. patent law changes regarding disclosure will be addressed, as well as what contracts are needed, when they need to be put into place, who needs to sign them and where proceedings if needed will take place.  Also to be discussed will be proper language and terms needed in sales, licensing and distributor agreements, as well as ownership issues.