The Rules governing the Awards include the following:
- Any person, persons or entity may win the Awards. Nationality or place of residence shall not be considered.
- The cash Award will be paid to the first person, persons, or entity that produces a solution to any of our Problems.
- In order to receive the cash Award, the winner must agree to transfer all rights to the invention to the Foundation.
- The Review Board must certify an invention before a cash Award is paid. The cash Award will be paid or offered within 90 days of such certification. The winning inventor will then have 30 days to decide whether to accept the Award or to decline the Award.
- The invention must be original work and not violate the patent, copyright or intellectual property rights of any other person, persons or entity.
- The inventor must be willing to participate in the Review process and provide the Review Board with supporting information.
- The Dewey Foundation is highly confident that we will complete the $1 Billion funding before the first Award is certified. However, in the event that an Award is certified by our Review Board before we are finished raising $1 Billion, the inventor is still in control and would have the following options:
- Take whatever money we have raised to that point (which will still be a truly significant amount of money), in cash, and receive a portion of the licensing revenues or additional donations generated by the invention until such time, if ever, the payout reaches $1 Billion
- Retain all rights to the invention, decline our Award, and go market the invention themselves. We will remain bound by our non disclosure agreement and we would have no rights to the invention.
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