Business Suggestion Template

BUSINESS SUGGESTION TEMPLATE

This Business Suggestion Template is submitted by Proposer Name: and is presented to Recipient Name: . Date of submission: .

RECITALS

WHEREAS, Proposer has developed or identified a business suggestion intended to improve operational efficiency, reduce costs, or generate new revenue streams for Recipient; and

WHEREAS, Recipient has invited or agreed to consider suggestions from employees, contractors, or external parties and desires to evaluate the proposal described herein under the terms set forth below; and

WHEREAS, the parties desire to memorialize the suggestion, the scope of potential implementation, estimated costs and benefits, payment terms for any agreed compensation, and confidentiality protections.

SCOPE OF SUGGESTION

ESTIMATED COSTS & BENEFITS

PAYMENT TERMS

If Recipient elects to compensate Proposer for the suggestion, the parties agree to the following payment terms:

Late payment shall accrue interest at a rate of on outstanding amounts, plus reasonable costs of collection.

TERM AND TERMINATION

This suggestion and the parties' obligations under any resulting compensation agreement commence on Start Date: and, unless earlier terminated in accordance with this section, continue until End Date: .

Either party may terminate any further work or payment obligations upon written notice to the other party delivered at least prior to the intended termination date. Termination shall not affect obligations accrued prior to the effective date of termination, including payment for services rendered and confidentiality obligations.

CONFIDENTIALITY

The parties acknowledge that the suggestion may include proprietary information. Recipient shall treat information designated as confidential by Proposer as Confidential Information and shall not disclose such information to third parties except as required by law or with Proposer's prior written consent. Confidential Information shall not include information that: (i) is or becomes public through no fault of Recipient; (ii) is rightfully received from a third party without restriction; or (iii) is independently developed by Recipient without use of Proposer's Confidential Information.

Proposer designates this submission as Confidential: Yes

INTELLECTUAL PROPERTY AND WARRANTIES

Proposer represents and warrants that the suggestion is the original work of Proposer and that to Proposer's knowledge it does not infringe the intellectual property rights of any third party. Unless otherwise agreed in writing, acceptance of a suggestion does not transfer ownership of pre-existing intellectual property of Proposer; specific assignments or licenses must be separately documented.

GOVERNING LAW

This Template and any resulting agreement shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of laws principles.

ENTIRE AGREEMENT

This document constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior negotiations, understandings, and representations, whether oral or written. Any modification must be in writing and signed by duly authorized representatives of both parties.

EVALUATION DECISION (TO BE COMPLETED BY RECIPIENT)

Decision (select all that apply):
Accept Accept with Modifications Defer for Further Study Reject

ADDITIONAL TERMS

Any additional terms, milestone definitions, or acceptance criteria agreed by the parties shall be attached as an addendum and incorporated herein by reference. Addendum description:

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