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Policies Overview
The University Intellectual Property Policies have received formal approval as of January 16, 2003.
Note 1
The funds would be directed to the campuswide strategic initiatives fund that funds new initiatives across the campus. This fund is within the purview of the Budget Priorities Committee.
Note 2
15% of Net Income To Inventor’s College and Primary Support Unit, According to Formula Involving a Threshold
- Primary Support Unit = College, Department or Center that Primarily Provided Resources for the Research leading to the royalties
- Must Be Invested in Seed Grants to Faculty Enabling Research with IP and/or Funding Potential
- Formula: First $25K of Net Income Each Year to Primary Support Unit. Above $25K in Royalties, 50% of Net Income to Primary Support Unit, 50% to College (or Colleges, in Case of Multi-college Centers, for example)
- Seed grant awards to be approved by College faculty committee, and reported to Campus Faculty Research Council.
10% of Net Income to Campus Faculty Research Council, with Investment Guided by Formula Involving a Threshold Must Be Invested in Faculty Research Seed Grants
- Formula: First $50K of Net Income Each Year Directed to Seed Grants for Research with IP and/or Funding Potential. Above $50K in Net Income each year, 75% to Seed Grants with IP/Funding Potential, 25% to Research Grants in Any Area
- Annual Award Report to VCAA and to Campus
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