In some cases the most appropriate means of transferring new knowl- edge to society is by publication in the scientific literature. The University also recognizes that in other cases, technology transfer is best achieved through patenting, which is itself a means of publication, or through other commercial exploitation of significant innovations in a manner consistent with both the public interest and the role and image of the University. This avenue is particularly appropriate when substantial time and costs must be invested by industry to further develop the university's innovation into useable technology. The income generated by commercial exploitation should be shared between the inventor, who supplied the ingenuity, and the University, which provided the facilities for the research. 2.2 University Personnel - this term shall include all members of the University's faculty, professional, technical, administrative, support or other staff, students registered in the University's academic programs and any other personnel engaged in the University's teaching or investigative programs.
Gross income includes such things as royalties, dividends, rents and sale proceeds.
Expenses include such things as development of proto- types, models etc., patent agent and legal fees, patent registration and renewal fees, and marketing and licensing costs. The Inventor is responsible for promptly disclosing in writing to the University any invention or suspected invention. The University shall rapidly decide on the ownership of the invention and whether or not it wishes to proceed with commercial exploitation of the invention. For inventions that are owned in whole or in part by the Univer- sity and are commercially exploited, the University and the Inventor will mutually share the income from the invention received by the University according to Section 3.4. The University will, when appropriate, negotiate consulting or contract research and development fees for the inventor as an integral part of any licensing agreement.