An invention may be protected by treating it as a secret process or product, as opposed to applying for patent protection, to prolong the inventor's rights to the invention beyond the term set for patents. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
North Dakota Agreement for the Exploitation of a Secret Process with Option to Purchase Process
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While a contract for deed can be beneficial, it also has disadvantages. First, if the buyer defaults, the seller may have to go through the process of eviction. Second, sellers remain responsible for the property taxes and insurance until the contract is fully executed, which can be a financial burden if the buyer delays payments.