The Legal Agreement section allows you to select the intellectual property structure for your crowdsourcing project and include any additional rules related to it. HeroX provides four template agreements for you to choose from, or you can create your own. To select a HeroX template, click on the “Change IP Clause” button above the text field. A pop-up will display with the four options:
IP is Open Sourced: Innovator will retain all intellectual property rights AND will release the intellectual property under an open source license.
Innovator Shares IP: Innovator will retain all intellectual property rights AND will license the intellectual property to the Sponsor for their own use.
IP is Transferred to Sponsor: Innovator will transfer all intellectual property rights to the sponsor.
Innovator Keeps IP: Innovator will retain all intellectual property rights.
TBD: To be determined (if you select TBD initially, you will need to finalize your agreement before the page can move into “Enter” mode.
After you have selected your desired agreement, or have copy/pasted your own, click the “Update Agreement” button and it will be saved. Users who sign up will be asked to review and either “Decline” or “Accept” the agreement before being able to complete their registration as a competitor in your crowdsourcing project.