imported from cFs-gpSaAxA
TOS for the site www.applits.com
When Applits picks your idea and pays the $1500 you lose all rights to the idea for life, even if Applits doesn't make the app. If the app doesn't get developed you can then buy back the idea (probably for the same amount) but then you have to pay out a lifetime 10% royalty to Applits in perpetuity and a free worldwide license to use the idea for non mobile use.
Option to Acquire an Accepted Mobile Application Idea
If an Accepted Mobile Application Idea is not selected by Applits for development, the Accepted Mobile Application
Idea Submitter will re-acquire ownership from Applits of all Intellectual Property Rights in the commercialized version
of the Accepted Mobile Application Idea, in return for paying Applits 10% of all revenues generated from such
Intellectual Property Rights in perpetuity. If the Idea Submitter exercises the aforementioned option, Applits shall
receive a perpetual, irrevocable, worldwide, royalty-free, fully paid-up, fully transferable license from the acquirer of
the Intellectual Property Rights to use such Intellectual Property Rights in Applits’ business, but not to develop mobile
applications that compete with the acquired commercialized version of the Accepted Mobile Application Idea. The
foregoing acquisition of Intellectual Property Rights shall be contingent upon the acquirer signing Applits’ standard
intellectual property assignment and license agreement memorializing the foregoing terms. All net revenues, less
associated costs such as, without limitation, attorney fees, actually received by Applits in connection with the
foregoing option shall be included with Mobile Application Sales Revenue when determining payments to Users
under the above section titled “Payments by the Company to Users.”
www.tos-dr.info // www.twitter.com/tosdr // www.github.com/Unhosted/ToS-DR
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