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. The allocation formula recognizes all forms of cash payments, including royalties and various fees from licensing. After subtraction of certain costs as outlined below, a percentage of the proceeds that the University receives from the licensing of inventions and discoveries will be paid to the inventor, the inventor's department, and the inventor's school, as specified below. The Technology Transfer Program will oversee the distribution of such funds according to a plan developed in consultation with the inventor and will provide an accounting to the inventor and the inventor's department and school on an annual basis.
Income then remaining is the net income, which is distributed as follows.
Should the inventor leave the University, this amount remains with the Technology Transfer Program. In no instance will this amount be transferred to an account of the inventor's designee. If the invention or discovery is the result of sponsored research and the sponsor regulates the distribution of income, such specific regulations shall take precedence over University policy with respect to distribution of the license revenue. With respect to any patent matter in which another institution or an outside agency shall share in the income derived from the patent rights, distribution of income shall be made first to the other institution according to agreed-upon terms, and then to the inventor according to this policy. A representative of the Vice President for Research serves as a non-voting staff member of the Committee.