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You are the General Counsel and employee in good standing at ACME, Inc. In fact, you just celebrated your third anniversary at the company. When
You are the General Counsel and employee in good standing at ACME, Inc. In fact, you just celebrated your third anniversary at the company. When you first started way back when, you were presented with a Confidentiality and Assignment of Inventions Agreement and you readily signed - you were thrilled to get this very prestigious job. ACME is so successful that the company was just sold to a private equity firm. Private equity firms focus on buying companies, increasing their value and then selling them at a higher price typically three to five years later. New ownership comes to you, in this case Tom Cruise, tells you that the new name for the company is Tom Cruise Delivery Company ("TCDC") (this is where you meet him for the first time) and puts before you a new Confidentiality and Assignment of Inventions Agreement. Tom Cruise informs you that the previous agreement did not contain all the terms that he wanted and so to fix that error, he is asking you to sign their new form. Question Presented If you sign the new agreement, is it binding on you and TCDC? Why or why not? Does your answer change if Tom Cruise offers you $1,000 in exchange for your signature
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