IDEA EVALUATION AGREEMENT
NAME OF SUBMITTER(S): _________________________________________________________
I , the Submitter, requests that Baldor review and evaluate my idea which is being submitted herein and
which relates to ______________________________________________________________________
(“Idea”), under the terms and conditions set forth below, and advise me whether Baldor is interested
in the Idea. My Idea is described in U.S. Patent No. _____________ or published U.S. Patent
Application Serial No. _______________ of which I am a named inventor.
TERMS AND CONDITIONS
1. It is clearly understood by me that this submission, and Baldor's evaluation and consideration
thereof, does not imply or create:
a. A confidential relationship between the parties;
b. A promise by Baldor to pay me for my Idea; or
c. A recognition by Baldor of either the novelty or originality of my Idea; or
d. A license to Baldor to use the Idea under any of my patent rights.
2. It is further clearly understood by me that:
a. Baldor accepts no responsibility for any damage or loss to samples or prototypes of the Idea
submitted by me and in its possession;
b. Baldor accepts no responsibility for holding any information in confidence that was
submitted by me;
c. Baldor shall compensate me only if it (a) accepts the Idea, (b) has received the Idea only
from me, and (c) executes a written agreement with me as to additional terms and
conditions;
d. During Baldor's evaluation of my Idea, I will not disclose Baldor's potential interest or
otherwise use Baldor's name without written permission from Baldor;
e. Baldor is not required to disclose to me its own developments, other submitted Ideas, or
other Ideas used by Baldor or its competitors;
f. If Baldor is interested in my Idea, I agree to negotiate with Baldor for rights thereto, and if
Baldor is not interested, Baldor is not obligated to inform me of the reasons for its lack of
interest;
g. The validity, interpretation and performance of this Agreement shall be governed and construed
in accordance with the laws of the State of Arkansas without regard to its choice of law
Baldor Electric Company • Corporate Headquarters 5711 R.S. Boreham, Jr. Street, P.O. Box 2400 • Fort
Smith, Arkansas 72901 Phone: (479) 646-4711 Facsimile: (479) 648-5792
IDEA EVALUATION AGREEMENT
PAGE 2
principles;
h. Baldor and I shall endeavor to amicably settle any disputes arising under this Agreement. If the
parties are unable to settle any dispute by themselves, then the parties agree that any and all
disputes arising out of or relating to the interpretation or application of this Agreement will be
subject to arbitration in Fort Smith, Arkansas under the then existing dispute resolution rules of
the American Arbitration Association. Judgment upon the award rendered may be entered into
any court of competent jurisdiction. The cost of such arbitration shall be borne equally by the
parties and the parties further agree that the prevailing party shall be entitled to recover
reasonable attorney fees; and
i. All of these terms and conditions apply to any information I provide Baldor regarding my
Idea.
3. The following non-confidential information relating to my Idea is attached to this request and
need not be returned to me:
___________________________________________________________________________________
4. This submission is made with the understanding that I will rely exclusively on my rights under any relevant
United States or foreign patent laws.
I HAVE READ AND FULLY UNDERSTAND THE ABOVE TERMS AND CONDITIONS, AND I
ACCEPT THEM IN CONSIDERATION OF BALDOR'S REVIEW AND EVALUATION OF THE
ATTACHED DESCRIPTION OF MY IDEA. I HEREBY ACKNOWLEDGE THAT ANY AND ALL
PREVIOUS DISCUSSIONS OR AGREEMENTS BY ANY AGENT OR EMPLOYEE OF BALDOR
ARE MERGED INTO THESE TERMS AND CONDITIONS AND ANY SUCH PRIOR DISCUSSIONS
OR AGREEMENTS SHALL NOT BE BINDING ON BALDOR OR BE OF ANY FORCE OR HAVE
ANY EFFECT.
I HEREBY REPRESENT AND WARRANT THAT I HAVE THE RIGHT TO DISCLOSE THE IDEA,
INVENTION OR SUGGESTION SET FORTH ABOVE AND THAT THERE ARE NO OTHER
OUTSTANDING AGREEMENTS, EITHER EXPRESS OR IMPLIED, WHICH ARE INCONSISTENT
HEREWITH.
SUBMITTER
Signature:
Printed Name: ___________________________________
Company: ___________________________________
(if applicable)
Title: ___________________________________
Date Signed: ___________________________________
A parent or guardian must sign below if the submitter is under the age of 18.
Baldor Electric Company • Corporate Headquarters 5711 R.S. Boreham, Jr. Street, P.O. Box 2400 • Fort
Smith, Arkansas 72901 Phone: (479) 646-4711 Facsimile: (479) 648-5792
IDEA EVALUATION AGREEMENT
PAGE 3
Parent Name: ___________________________________
Parent Signature: ___________________________________
Date Signed: ___________________________________
BALDOR:
Signature:
Printed Name: ____________________________________
Title: ____________________________________
Date Signed: ____________________________________
Baldor Electric Company • Corporate Headquarters 5711 R.S. Boreham, Jr. Street, P.O. Box 2400 • Fort
Smith, Arkansas 72901 Phone: (479) 646-4711 Facsimile: (479) 648-5792