Star-Nail
Star-Nail
Star Nail Project – Potential Performance Based Manufacturing Partnership
The Star Nail Inventor and it’s Holders Intend To Offer the following:
The Inventor and it’s Holder’s intend to sell and convey ‘all Right, Title and Interest’ of all Star Nail Patents, know how, designs and other concepts to a qualified ‘Purchasing Party’.
The Inventor and it’s Holders also agree to offer assistance in the development of the Star Nail project under the terms that are agreed upon by all parties.
Purchase Consideration
The Inventor and it’s Holders would receive a return, only when the ‘Purchasing Party’ brings the Star Nail to market and is receiving revenues. Specifics of this participation arrangement shall be mutually agreed upon.
The agreed upon contract must be enforceable to all ‘Heirs’ and ‘Assigns’.
Participation amounts would be distributed to the Inventor and Holders and Assigns or Heirs for the life of the ‘last to expire’ Star Nail Patent.
A reasonable deposit will be required to show the Purchasing Party’s sincere intent. The Purchasing Party would also agree to commit appropriate resources to complete the commercial success of the Star Nail product.
Purchasing Party’s Intent and Project Commitments
Purchaser shall agree to exercise due diligence to achieve the following objectives:
A)
Resources shall be available to perfect and build a commercial viable machine to produce the Star Nails. Said machine can be based on the original patented design by the Star Nail’s Inventor, or the Purchasing Party’s own design. This machine will be used to produce Star Nails for testing, certifications and proof of concept, as well as for retail and commercial sales.B) The Purchaser will work to attain approval for any and all governmental industry certifications and building code compliance.
The Purchaser will perform adequate marketing, distribution and channel development, allowing for proper retail and commercial sales channel introduction and penetration.
Any and all applicable Star Nail Patents shall be properly maintained
A ‘Diligence Clause’ will be agreed upon to allow a remedy should Purchasing Party fail to provide adequate funding or resources for the Star Nail project’s overall success.