Hi,
I'm going through & setting up a new project management app called 'Duet' [1], & part of it asks for me to enter terms which appear on estimates & invoices. I found an article from FreshBooks talking about optimizing what terms are most effective [2], so I use that as a guideline.
However I have an idea for extra language to somehow state that 'All IP generated by (My Company) throughout the course of our working relationship with the customer is wholly owned by (My Company) during which time that any invoices are unpaid, & transfer of ownership of said IP to customer is only valid upon the condition that all outstanding balances are current.'
My question is with regard to how realistic this type of condition is, & I'd like to know if anyone's aware of an affordable legal resource who could help me with the right wording to do this.
-Thanks! -c
[1] https://news.ycombinator.com/item?id=12404871
[2] https://news.ycombinator.com/item?id=13160219
That said, and I'm not a lawyer, I'd keep it simple. Any transfer of IP only occurs when the contract is paid in full and there are no outstanding claims related to the contract. Even better would be to not transfer ownership of IP.