Provider holds an exclusive one-year option to purchase full ownership of any patentable content submitted to the site for a fixed sum of $1,000 USD or equivalent value in kind, at Provider's sole discretion.
This analysis describes what LexisNexis's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes a unilateral option mechanism by which Provider may acquire full intellectual property ownership of patentable user submissions at a predetermined, fixed consideration. The adequacy of $1,000 USD as consideration for a patent or patentable invention may be subject to challenge under applicable contract and IP law, depending on jurisdiction and the commercial value of the submission.
Interpretive note: The enforceability of this option at $1,000 fixed consideration may depend on jurisdiction-specific adequacy of consideration doctrine and whether the clause survives scrutiny as a standalone IP assignment mechanism embedded in website terms.
Under section 4.6, submitting patentable content to the LexisNexis website triggers a one-year exclusive purchase option held by Provider, which, if exercised, obligates the submitter to transfer full ownership of that content for $1,000 USD or a value-in-kind equivalent determined by Provider.
Cross-platform context
See how other platforms handle Exclusive Option to Purchase Patentable Submissions and similar clauses.
Compare across platforms →"Provider shall have the exclusive option to purchase from you and acquire all right, title and interest in any Postings containing patentable subject-matter that you submit to this Web Site. The option shall be exercisable by Provider from the date you submit such Posting until one year from that date. If Provider exercises its option under this section 4.6. you agree to accept payment in the amount of $1,000.00 USD or value in kind at Provider's discretion as full and sufficient consideration for such purchase, and you agree to execute, acknowledge and deliver any and all instruments required to transfer legal ownership of Postings to Provider.Excerpt from LexisNexis's Terms
1) REGULATORY LANDSCAPE: This provision engages patent law under 35 U.S.C.
Enforcement risk, jurisdiction flags, contract triggers, and due diligence action items.
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This provision establishes a unilateral option mechanism by which Provider may acquire full intellectual property ownership of patentable user submissions at a predetermined, fixed consideration. The adequacy of $1,000 USD as consideration for a patent or patentable invention may be subject to challenge under applicable contract and IP law, depending on jurisdiction and the commercial value of the submission.
Under section 4.6, submitting patentable content to the LexisNexis website triggers a one-year exclusive purchase option held by Provider, which, if exercised, obligates the submitter to transfer full ownership of that content for $1,000 USD or a value-in-kind equivalent determined by Provider.
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