325A.03 RIGHT OF CANCELLATION.
    Subdivision 1. Form and manner. Notwithstanding any contractual provision to the
contrary, the customer shall have the unconditional right to cancel a contract for invention
development services for any reason at any time before midnight of the third business day
following the date the invention developer and the customer sign the contract and the customer
receives a fully executed copy of it. Written notice of cancellation may be delivered personally or
by mail. If given by mail, the notice is effective upon deposit in a mailbox, properly addressed
and postage prepaid. Notice of cancellation need not take a particular form and is sufficient if it
indicates, by any form of written expression, the intention of the customer not to be bound by
the contract. Within ten business days after receipt of the notice of cancellation, the invention
developer shall deliver to the customer, personally or by mail, all moneys paid, any note or other
evidence of indebtedness and all materials provided by the customer.
    Subd. 2. Contract notice. Every contract for invention development services shall contain
the following statement in 10-point boldface type immediately above the place where the
customer signs the contract:
"The three business day period during which you may cancel this contract for any reason by
mailing or delivering written notice to the invention developer will expire on (last date to mail
or deliver notice). If you choose to mail your notice, it must be placed in the United States mail
addressed to (Name of Invention Developer), at (Address of Invention Developer's Place of
Business) with first class postage prepaid before midnight of this date. If you choose to personally
deliver your notice to the invention developer, it must be delivered by the end of the developer's
normal business day on this date."
History: 1977 c 288 s 3; 1986 c 444