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2013 SESSION

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HB 1738 Invention development services; required disclosure, civil penalty.

Introduced by: Peter F. Farrell | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Invention development services; disclosure and civil penalty. Requires each contract for invention development services to include on its cover sheet a disclosure of the invention developer's rate of successful outcomes, measured as the percentage of its contracts that have resulted in the procurement of a license, buyer, or patent for an invention. The measure also increases the maximum amount of a civil penalty that the Attorney General may recover in an enforcement action from $3,000 to $25,000. The measure also clarifies that collected civil penalties will be deposited in the general fund.


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