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All App ideas submitted by you (SUBMITTER) will immediately become property of Mobile App Fund, LLC.
Submission of an idea does not constitute any binding relationship between Mobile App Fund, LLC. and the SUBMITTER.
Many applications that are submitted are similar and it is at Mobile App Fund, LLC. sole discretion which application, if any, to build and which SUBMITTER to credit.
Tier 1 SUBMITTER will receive 25% of all net income gross revenues, Tier 2 SUBMITTER will receive 50% of all net income gross revenues and Tier 3 SUBMITTER will receive 75% of all net income gross revenues (Gross Revenues are net income proceeds received by Mobile App Fund after iOS App Store and Google Play commission is taken out) generated AFTER the “break even” point for their application (break even is defined as cost assumed by MAF to design, develop, deploy and market the application)
If the application does not break even, the SUBMITTER will not receive compensation unless stated otherwise in the Joint Venture & Revenue Share Agreement.
By accepting these terms you give consent for Mobile App Fund, LLC. to use your name, likeness, ideas, application and personal information for any and all purposes, including posting on Mobile App Fund websites and any promotional materials.
Because Mobile App Fund is actively developing original applications, a submitted idea may already be in development and such ideas are the property of Mobile App Fund, LLC. Tier 2 approvals require a one time $495.00 cost for Proof of Concept & wireframe design and Tier 3 approvals require a one time cost of $995.00 for Proof of Concept. Depending on the complexity of the app and the total development costs needed, some Tier 2 & Tier 3 apps may require the SUBMITTER to invest or raise the balance needed to bring the app to development.
You give permission to Mobile App Fund to contact you via phone and/or email to further clarify your idea or discuss this agreement if need be.
Participating applicants must be 18 years of age or older.