Hackathon – Participant Terms Overview
When a bank or other organisation is hosting an innovation program, hackathon and competition (hereafter called the “Event”) in collaboration with TESOBE / The Open Company Project (the “Organisers”):
● The aim of the Event is to facilitate the rapid creation of innovative “FinTech” and related applications that address one or more of the challenges to the Company’s business identified by the Company and provided to participants.
● The Event is a free, collaborative brainstorming, designing and coding event. Neither the Company nor the Organisers have any obligation to develop the applications or ideas created at the Event or to buy or otherwise contract with the participants.
● The participant acknowledges that the Company, the Organisers and the participants may each independently and separately develop any intellectual property rights they either own or have generated at the Event.
● The participant acknowledges that the Company may be interested in partnering with participants in relation to intellectual property rights generated by participants during the Event. Accordingly, if following the Event, the participant wishes to partner with a third party to further develop, exploit and/or commercialise any intellectual property rights generated by the participant during the Event, the participant agrees to enter into good faith discussions with the Company to evaluate the Company’s suitability as a partner, before seeking to partner with any other third party.
● Participants may receive mentoring and pitch training during the Event. Teams may be formed during or prior to the Event.
● The Event should be considered public. News and media of the Event, participants, teams, application concepts, screen shots and demonstrations may be circulated on social media and in the press.
Who can join?
● Participants must be 18 years or over to attend. Proof of date of birth may be requested.
● The Company and the Organisers reserve the right to refuse entry, or remove and disqualify a participant from the Event at their sole discretion at any time for any reason.
● The Company reserves the right, in its sole discretion, to cancel, terminate, modify or suspend the Event at any time for any reason.
● To take part in the Event you must register on a website set by the Organisers
● The number of participants is limited and the Company may close registration at any time.
● Unless otherwise stated by the Company, participants are responsible for all costs associated with their attendance at the Event including but not limited to transport and accommodation.
Intellectual Property
● All intellectual property rights in the ideas and applications of a participant shall remain owned by, and shall vest in, the participant who creates them.
● Company employees who participate in the Event shall license any intellectual property rights generated during the Event under the Apache License Version 2.
● Any third party intellectual property rights shall remain vested in the third party or third parties who own them.
● Any third party intellectual property rights used by a participant during the Event must be clearly identified as such by participants together with any applicable terms of license and other details relating to use of same.
● Participants agree that they will not infringe the copyright, design, database right or trade mark or any other intellectual property right of any third party.
● Participants agree that they shall only use the data made available during the Event for the purposes of participating in the Event and shall not extract, copy or otherwise use or extract any data from the API Sandbox for any other purpose.
Conditions of Registration and Participation in the Event
By registering for and participating in the Event participants:
● agree to abide by these terms and conditions.
● agree not to hold the Company nor the Organisers liable for any loss or damages of any kind in connection with the Event or prizes.
● agree that the judging criteria and decisions of the judges selected by the Company are final in relation to any prizes that may be awarded for the Event.
● agree that their name, image, likeness, photographs, videos, screenshots and description of their applications may be used by the Company and the Organisers on their websites, in promotional material and in any internal or external publicity accompanying or resulting from the Event including but not limited to any press, blogs or articles on social media.
● agree not to use or promote offensive or illegal material in their applications
● agree that their participation in the Event will not breach any duty of confidentiality or contractual rights owed to any third party.
● allow the Company and the Organisers and other participants to publish and share details and screenshots / demonstration videos of their applications on the web and other media.
● agree that the Company can contact them for the purposes of exploring business collaborations after the Event.
● agree that the Event is public and news and media of the Event, participants, teams, application concepts, screen shots and demonstrations may be circulated on social media and in the press.
● agree that these terms and conditions and the participant’s participation in the Event shall be governed by the laws of the host country and subject to the exclusive jurisdiction of the Courts of the host country.