Corporate Idiocy

I have always believed that corporations are no less infallible than individuals. In this post let me cite an instance.
One of my friends (a graphic designer) who is looking for work received an email from a company. Let us call it company V. The email was courteous (although somewhat commanding). It said they had seen my friend's resume in a job portal. They wanted him to send in his work samples and resume. Everything is fine till this point.
Then they go nuts - apparently they want to make sure that by supplying the work samples, the candidate cannot claim Intellectual Property later on. In the world of software this is not a problem - but, for Graphic Designers it is - because they supply actual image samples.
So, to protect themselves, the company sends a legal form of incredible complexity for EVERY candidate who is even thinking about applying.
I quote a few excerpts from this monstrous legalese:

You acknowledge and agree that any and all controversies arising out of or in any way relating to the Material submitted by you to “Company” shall be settled by final and binding arbitration, which will take place in Bangalore pursuant to the Indian Arbitration Act, 1996. At the request of either party, the arbitrators, attorneys, parties to the arbitration, witnesses, experts, or other persons present at the arbitration shall agree in writing to maintain the strict confidentiality of the arbitration proceedings. The arbitration shall be conducted by a single, neutral arbitrator, or, at the election of either “Company” or you, three neutral arbitrators, appointed in accordance with the applicable rules referred to above. The Laws of India Any proceeding that you may choose to bring shall be initiated within six (6) months after the date of first use by “Company” of the Material. 8. You shall, at your own expense, indemnify “Company” from and against any claim, suit, or action brought against “Company” by third parties for infringement or misappropriation of a third party's copyright, national or international patent, or trade secret right by any Material provided by You to “Company” and shall pay any damages or settlement assessed against “Company” under such a claim.

Most of us cannot even understand words such as "misappropriation" or "indemnify" - these people are seriously expecting potential candidates to sign this and return it.
Me and my friend had a hearty laugh over this. He chose not to apply - he thought they would get worse if he got selected, requiring him to sign his property over.