The University may enter into agreements with outside agents to assist in developing inventions or discoveries, in obtaining patents, or in promoting or manufacturing inventions, provided that such agreements are consistent with this policy. If a particular invention or discovery becomes subject to such an agreement, the inventor will be notified about the agreement and any terms governing the relationship between the outside agent and the University. The University may enter into any licensing agreements deemed beneficial to the University, the inventor, and the public in general, provided such agreements are not prohibited by a sponsor's rules or regulations. Any terms governing the relationship between the licensee and the University due to such licensing agreements are made in consultation with the inventor. As a general policy, the University does not sell or assign patent rights.
Equity includes stock, stock options, warrants, and other non-cash consideration.
The University and the inventor are responsible for negotiating their respective equity positions. Management of the University's equity share is the joint responsibility of the Offices of the Vice President for Research and the Vice President for Investments. If there is more than one inventor, the applicable royalty percentage will be divided equitably among the inventors. Their departments and schools or divisions will also divide the applicable percentage equitably. The Vice President for Research retains the right to review the distribution and mediate among the parties.