| 1. |
No purchase necessary. Void where prohibited. |
| 2. |
Registration Deadline is December 31st, 2008. |
| 3. |
Contest is open to anyone regardless of age or nationality*. |
| 4. |
There will only be one Contest Winner. Winner need not be present to win. |
| 5. |
Competitors may submit either a hoverboard Design
or a Proof-of-Concept (POC). POC submissions may be
presented in person or shipped to HoverTech with instructions. Submissions will remain the
property of the Competitor. |
| 6. |
Published hoverboard designs may not be submitted except as a Proof-of-Concept. |
| 7. |
The winning Design or Proof-of-Concept must meet all listed
criteria and show convincing evidence of marketability. |
| 8. |
The Winner will receive a cash prize of US$10,000. The Winner will also be invited to join or
partner with HoverTech to develop a marketable product. |
| 9. |
If a Winner has not been declared by the Registration Deadline, this Contest shall be null and
void. |
| 10. |
Winner may be required to participate in promotional interviews. |
| 11. |
Winner must sign a Non-Compete Agreement with HoverTech
prior to accepting the prize. If the Winner is under the age of 18, representation by a parent
or legal guardian is required. |
| 12. |
Prize money will be provided by a venture capitalist, angel investor, research grant, or a
combination thereof. Winner will receive prize money only after a submission has been chosen
by a panel of judges selected by HoverTech. HoverTech shall not be held liable for prize money
that cannot be raised through the aforementioned sources after a period of 1 year. |
| 13. |
Winner will retain full intellectual rights to his or her invention, provided it is sufficiently
different than HoverTech's designs. |
| 14. |
Contest Rules and POC Requirements are subject to change without notice.
|
