Section 620.050

Title XL ADDITIONAL EXECUTIVE DEPARTMENTS

Chapter 620

Effective - 28 Aug 2008, 2 histories, see footnote   (history) 

  620.050.  Council created, members, appointment — registration fee — fund established, use of moneys — council duties — rulemaking authority. — 1.  There is hereby created, within the department of economic development, the "Entrepreneurial Development Council".  The entrepreneurial development council shall consist of seven members from businesses located within the state and licensed attorneys with specialization in intellectual property matters.  All members of the council shall be appointed by the governor with the advice and consent of the senate.  The terms of membership shall be set by the department of economic development by rule as deemed necessary and reasonable.  Once the department of economic development has set the terms of membership, such terms shall not be modified and shall apply to all subsequent members.

  2.  The entrepreneurial development council shall, as provided by department rule, impose a registration fee sufficient to cover costs of the program for entrepreneurs of this state who desire to avail themselves of benefits, provided by the council, to registered entrepreneurs.

  3.  There is hereby established in the state treasury, the "Entrepreneurial Development and Intellectual Property Right Protection Fund" to be held separate and apart from all other public moneys and funds of the state.  The entrepreneurial development and intellectual property right protection fund may accept state and federal appropriations, grants, bequests, gifts, fees and awards to be held for use by the entrepreneurial development council.  Notwithstanding provisions of section 33.080 to the contrary, moneys remaining in the fund at the end of any biennium shall not revert to general revenue.

  4.  Upon notification of an alleged infringement of intellectual property rights of an^* entrepreneur, the entrepreneurial development council shall evaluate such allegations of infringement and may, based upon need, award grants or financial assistance to subsidize legal expenses incurred in instituting legal action necessary to remedy the alleged infringement.  Pursuant to rules promulgated by the department, the entrepreneurial development council may allocate moneys from entrepreneurial development and intellectual property right protection fund, in the form of low-interest loans and grants, to registered entrepreneurs for the purpose of providing financial aid for product development, manufacturing, and advertising of new products.

  5.  Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028.  This section and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2008, shall be invalid and void.

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(L. 2008 H.B. 2058)

*Word "a" appears in original rolls.