Vital Project – General Terms & Conditions
Cookie Policy
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Vital is not responsible for the cookie policies of any web site addressed via external links on our web site.
Policy & Procedures
The security and privacy of your personal data or business data is important to VITAL whether submitted via this web site or directly to our Project Team.
The process below outlines the stages of administration in place to reduce the need to make any confidential disclosure until it’s considered essential to progress evaluation of your submission.
Only Idea Submitters who are 100% owners of the idea should submit via the web Idea Submission Process.
Please contact us directly if you are a co-inventor; employee or director of a company; an agent; Institution or if you are under the age of 18.
VITAL will not provide your personal information to any external parties for the purpose of direct marketing or for other purposes outside the remit of the VITAL project.
All details regarding Idea Submissions, via this web site directly or via initial contact with the VITAL Project Team, are on the basis of Non-Confidential Disclosure only and for the sake of clarity unprotected intellectual Property ( IP), trade secrets or commercially sensitive information should not be disclosed at this point.
Following initial assessment by the VITAL Team further details may be sought still under a Non-Confidential arrangement to gain a better understanding of the Idea Submission, it’s commercial prospects and the degree of match with the VITAL Project brief and timeline.
As the VITAL brief and timeline is quite specific, not all ideas, even high potential ideas, will progress through our screening or progressing stages. The VITAL project has a pragmatic focus on defined geographic economic impact and market deliverability within the timeframe dictated by the VITAL Project Brief as detailed elsewhere on this web site.
Due to VITAL time and resource constraints, it will not be possible to issue detailed reports or assessments on Submissions that, for any reason, have not progressed throughout the various stages of assessment.
Where appropriate VITAL will signpost unsuccessful submissions to established agencies.
Where an Idea submission is initially assessed to be a good fit to the Project Brief and have potential commercial prospects, VITAL will, where appropriate, seek full disclosure of all unprotected IP and Commercially sensitive information under a formal Confidentiality Agreement.
An example of this agreement is provided in the www.vitalforideas.com/resources web page.
Following assessment of the technical, innovation, market and commercial merits of the submitted idea, only a limited number of successfully graded ideas will progress and be placed in our database for potential match with prospective Idea Implementers.
VITAL’s role in this process is essentially that of collating, screening and validating Ideas and advancing the prospects of certain Ideas that fit the project brief and timeline.
In this regard all confidential information shall remain so within the Vital Partnership and its employees, agents and advisors who themselves will be bound by confidential agreements.
VITAL will also make in advance a Non-Confidential IP & Commercial Overview to any prospective Idea Implementer to ascertain interest in progressing.
Where an Idea is deemed suitable for matching with a prospective implementer, the actual confidential disclosure relating to all aspects of the Idea Intellectual Property and sensitive commercialisation prospects shall be a matter for the Idea generator and Implementers to arrange jointly.
Each party should seek professional advice in advance and have a clear understanding of the roles and expectations of the other party in order to expedite the match process.
The process steps will be as below…
Subject to the prior approval of both parties, VITAL will make and attend the introduction.
VITAL will provide the internally progressed IP file and commercial evaluation package to the Idea owner for the purpose of the Confidential Disclosure to the Idea Implementer should he/she wish to do so.
Vital therefore does not warrant that any idea will be successfully progressed or implemented as any matter relating to IP licence, royalty, investment, on-going development, production, market entry and commercialisation will be a matter entirely for the Idea Creator and the Idea Implementer to formalise.
Where a commercialisation arrangement is successfully negotiated between the Idea Creator and Idea Implementer, VITAL will work thereafter to assist in the fast track to market process subject to ongoing effective commitment of both parties.
This is contingent on the availability of project funding and the requisite approval of the VITAL Management Committee. Only a limited number of projects will qualify for this advanced level of VITAL support.
We welcome any comments or queries and will strive to respond by end of next working day.
V1. 1 Dated 25/10/13
