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As used in this section, unless the context otherwise requires:
“Customer” means any individual or entity who causes or caused a molder to:
Fabricate, cast, or otherwise make a die, mold, or form; or
Use a die, mold, or form to manufacture, assemble, or otherwise make a product or products;
“Molder” means any individual or entity, including, but not limited to, a tool or die maker who:
Fabricates, casts, or otherwise makes a die, mold, or form; or
Uses a die, mold, or form to manufacture, assemble, or otherwise make a product or products;
“Molder” shall not be construed to include individuals or entities who fabricate, cast, otherwise make or use plates, types, or other such forms in the reproduction of printed or graphic arts material; and
“Within three (3) years following the last prior use” includes any period following the last prior use of any die, mold, or form.
This section shall not apply where a molder retains title to and possession of a die, mold, or form. Nothing in this section shall be construed to grant a customer any rights, title, or interest to a die, mold, or form.
Unless otherwise agreed in writing, if a customer does not take possession from a molder of a die, mold, or form situated in this jurisdiction within three (3) years following the last prior use thereof, all of the customer's rights, title, and interest to such die, mold, or form may be transferred by operation of law to the molder for the purpose of destroying such die, mold, or form, consistent with this section.
If a molder chooses to have all rights, title, and interest to any die, mold, or form transferred to the molder by operation of law, the molder shall send written notice by registered mail, return receipt requested, to its customer at the address, if any, indicated in the agreement pursuant to which the molder obtained possession of the die, mold, or form and to the customer's last known address, indicating that the molder intends to terminate all of the customer's rights, title, and interest by having all such rights, title, and interest transferred to the molder by operation of law pursuant to this section; provided, that if the customer designates in writing an address to which the written notice must be sent, the molder must send the notice to such address.
If a customer does not take possession of the particular die, mold, or form within one hundred twenty (120) days following the date the molder receives acknowledgement or nonacknowledgement of the return receipt of such notice, or does not make other contractual arrangements with the molder for taking possession or for the storage thereof, all rights, title, and interest of the customer shall transfer by law to the molder. Thereafter, the molder shall be entitled to destroy the particular die, mold, or form as the molder's own property without any risk of liability to the customer, except that this section shall not be construed in any manner to affect the right of the customer under federal patent or copyright law, or any state or federal law, pertaining to unfair competition.