Common use of Submission of Ideas Clause in Contracts

Submission of Ideas. To the extent that you might submit to ErisX submit ideas, concepts, designs or inventions for instruments or any other relevant topic (collectively, “Ideas”) you should not reveal to ErisX any Ideas for which you want to receive any compensation or credit. By submitting Ideas to ErisX, you expressly agree to give up any and all rights you may have to such Ideas and you agree to transfer to ErisX all of your rights pertaining to such Ideas. By submitting any Ideas to ErisX, you expressly authorize ErisX to use and benefit from the Ideas as ErisX may decide. ErisX will not provide you with any compensation or credit for any Ideas you submit. By submitting an Idea to ErisX, you give up all control you might otherwise have concerning such Ideas unless you and ErisX have executed a valid and relevant non-disclosure agreement that covers the submission of your Ideas to ErisX.