1. “Commercial stage” means the point at which the product has advanced beyond the theoretical and prototype stage and is capable of being manufactured or reduced to practice commercially;

2. “Inventor” means any person who perceives a new concept which may result in a product or patentable process;

3. “Person” means any individual, sole proprietor, partnership or corporation;

4. “Product” means any device, technique or process;

5. “Proposal” means a plan provided by the inventor which includes technical and descriptive information on the concept; and

6. “Royalties” means all things of value received by an inventor in connection with the licensing, rental or sale of a product patented, in patent pending, or trademarked pursuant to federal law.