Inventor Protection Act of 1995

Inventor Protection Act of 1995 - Requires that every contract for invention development services be in writing and that a copy of the signed written contract be given to the customer at the time the customer enters into the contract.

Directs the invention developer to: (1) state in the contract whether the usual business practice is either to seek more than one contract in connection with an invention or to seek to perform services in one or more phases; and (2) supply to the customer a copy of the written document including the usual business terms of contracts and the approximate amount of the usual fees for services provided.

Prohibits a developer from requiring or accepting payment for services for five business days after the customer receives a copy of the contract.

Calls for the invention developer or a third party representing the invention developer to deem delivery of a promissory note, check, bill of exchange, or negotiable instrument of any kind as payment on the date received.

Gives the parties the option to refuse to enter into the contract until five business days after the payment is made.

Prescribes language and information that must be included in a cover notice on every such contract.

Requires the developer to deliver at quarterly intervals a written report for every contract which shall include: (1) a description of the services performed and those yet to be performed; and (2) the name and address of each person, firm, or corporation to whom the subject matter has been disclosed.

Mandates that each contract include: (1) the terms and conditions of payment and contract termination rights; (2) a statement that the customer may avoid entering into the contract by not making a payment to the developer; (3) a concise description of the specific acts or services the developer undertakes; (4) a statement as to whether the developer undertakes to construct, sell, or distribute one or more prototypes, models, or devices embodying the invention; (5) the name and place of business of the developer and any entity that may perform any of the services; (6) a statement of the developer's representation of estimated or projected customer earnings and the data upon which such representation is based; (7) the name and address of the custodian of all records and correspondence relating to the contract; and (8) a statement setting forth a schedule for performance of services.

Renders any such contract voidable if it: (1) does not comply with applicable provisions; (2) is entered into in reliance upon any false, fraudulent, or misleading information, representation, notice, or advertisement; or (3) is made by an unenrolled invention developer. Deems any waiver by the customer of any provision of this chapter contrary to public policy void, and unenforceable.

Permits any customer who is injured by a developer's violation of this chapter or by any false or fraudulent statement, representation, or omission of material fact by a developer to recover in a civil action against the developer, in addition to reasonable costs and attorney's fees, the greater of $5,000 or the amount of actual damages sustained to the customer.

Requires the developers that offer to perform or perform for the customer any act involved in filing for and obtaining utility, design, or plant patent or trademark protection to enroll annually with the Patent and Trademark Office.

Authorizes the Commissioner of the Patent and Trademark Office, after notice and opportunity for a hearing, to suspend or exclude from enrollment as a developer any person, firm, partnership, or corporation demonstrated to be incompetent, disreputable, liable for gross misconduct, or not in compliance with the regulations.

Makes an act by an unenrolled developer of representing himself as enrolled or permitting himself to be held out as enrolled as a misdemeanor subject to a $10,000 fine for each offense.