A bill to create a comprehensive Federal system for determining the ownership of and amount of compensation to be paid for inventions made by employed persons.

[AI summary unavailable — showing source text] Establishes a Federal system for determining the ownership and amount of compensation to be paid for inventions made by employed persons. Requires an employee who has made a service invention to give written notice of the service invention to his employer without undue delay. Enumerates the required contents of such notice. Permits an employer to claim exclusive rights in and to an employees service invention by giving a written declaration of his claim to the employee as soon as practicable. Directs the employee upon receipt by the employee of such a declaration to assign all rights to the service invention to the employer. Invalidates any disposition of a service invention which impairs an employer's rights in the service invention. Permits an employer to retain a right of first refusal. Defines a free invention to be any invention made by an employee which is not a service invention or to which the employer has ceased to have any claim or interest. Vests an employee with a right to adequate compensation for a service invention as soon as his employer has claimed exclusive rights in the invention. Requires that an employer shall apply for a patent on the service invention within …