Terms and Conditions
TERMS AND CONDITIONS FOR THE CULTIVATE 269® PITCH COMPETITION
Presented by Kalamazoo Forward Ventures and Western Michigan University ("WMU") ("Sponsor")
These terms and conditions ("Terms") govern the Cultivate 269® Pitch Competition (the "Competition"). These Terms are entered into by and between (i) you (the "Authorized Officer") and your startup company or venture (the "Company"), as participants in the Competition, and (ii) the Sponsor. By submitting an application that references these terms, the Authorized Officer, individually and on behalf of the Company, agrees to be bound by the terms set forth herein.
1. Eligibility:
The Authorized Officer represents and agrees that they are a CURRENT WMU STUDENT. If the Authorized Officer is not a current WMU student, the Company will not be eligible to compete in Cultivate 269®. The Authorized Officer represents that each of the Company's team members are legal residents of, and physically domiciled in the United States. The Company's business is headquartered in the state of Michigan. The Authorized Officer has the power and authority to enter the Company into the Competition, and represents that the Company meets all eligibility rules, including enrollment status as a current Western Michigan University student.
2. Due Diligence and Verification:
The Authorized Officer understands that these Terms will be relied upon by the Sponsor if the Company is selected as a winner. The Authorized Officer and the Company acknowledge that if selected as a winner, they will be subject to a due diligence period. Any award or prize is subject to the completion of both legal due diligence satisfactory to the Sponsor and verification of all information provided during the application process.
3. Taxes and Withholding:
The Authorized Officer understands that if the Company is selected, the Company is solely responsible for the payment of any applicable federal, state, local, or other taxes imposed as a result of winning any prize. The Company must complete all tax and other forms required by the Sponsor as a condition precedent to receiving any prize.
4. Integrity of Participation:
The Authorized Officer represents that they have not perpetrated and will not perpetrate any fraud or deception in connection with the Competition. The Authorized Officer agrees to only present accurate and truthful information to the Sponsor and judges throughout the duration of Cultivate 269®.
5. Liability Release:
To the maximum extent permitted by law, the Authorized Officer releases, waives, holds harmless, and forever discharges the Sponsor, its affiliates, board members, committee members, and sponsors (the "Released Parties") from and against any and all liabilities, claims, actions, or damages arising from the Competition. This includes, without limitation, any infringement of intellectual property, Startup Company's participation, or the use of the prize awarded.
6. Publicity Release and License:
The Authorized Officer irrevocably grants to the Sponsor and its designees the right to use the Company's and the Authorized Officers' name, photograph, logo, video image, likeness, and statements for advertising, promotions, and publicity purposes in any media now known or hereafter devised, worldwide and in perpetuity. This includes the right to document the pitch competition and use resulting media to promote the Kalamazoo Forward Ventures ecosystem.
7. General Release:
The Authorized Officer understands that these Terms include a full and complete release that applies to all disputes or claims related to the Competition. These Terms shall be binding upon the Company's heirs, executors, and administrators.
8. Compliance with Laws:
The Authorized Officer understands that the Company must follow all applicable laws, including securities laws and regulations, related to participation in the Competition. Nothing in these terms shall be construed as legal guidance, and the Company should consult its own attorney for legal advice. The Company represents that it will not advertise the issuance or sale of its securities as part of the Competition.
9. Authorization:
The Authorized Officer represents and warrants that he or she has the due authorization and power to bind the Company to these Terms. The Authorized Officer warrants that entering this Competition does not conflict with the Company's governing documents or any existing material contracts or licenses.
10. IP Ownership by Participants:
By submitting an application to the Competition, Participants assure that they have sufficient right, title and/or interest in the application submitted and that the information it contains is accurate and complete, and that by submitting the document and all elements related to their projects to the Competition, they are not and will not be violating any contract or third party rights including any patent, copyright, trade secret, proprietary or confidential information, trademark, publicity or privacy right. This could mean that they created the technology, that the patent is in their name, or that they have the explicit (i.e. written) permission of the person or organization that owns the intellectual property. Any team that violates this will be automatically disqualified from the contest. Intellectual Property ownership is governed by applicable state and federal laws, including any assignments or agreements or policies governing assignment. Participants are advised that WMU IP Policy governing Participants that are its undergraduate students (where substantial WMU resources are used to create the Intellectual Property), graduate students, staff and faculty, may be applicable.
11. Other Intellectual Property Provisions.
Other than as governed by WMU IP policy, Sponsors do not make a separate claim to any Intellectual Property of participants unless separately negotiated between the parties. Sponsors are not liable for any disclosure, confidentially or intellectual property issues or other matters. Participants are advised that the Competition Day is open to the public and may be considered a public disclosure, which may affect patenting rights in the terms of patent law of the US and other countries.
12. Western Michigan University Support.
Western Michigan University ("WMU") may provide in-kind support in connection with the Competition, as appropriate, which may include access to facilities, staff time, mentorship, and other institutional resources. Any such support is provided at WMU's discretion, subject to availability and applicable university policies, and does not constitute financial sponsorship, investment, endorsement, or a contractual relationship between WMU and any participant or company.