POLICIES

 

Royalty Distribution

For all invention disclosures received through December 31, 1998 by TTP, the royalty distribution shall be according to the 1974 Patent and Invention Policy as follows.

Direct legal expenses related to the invention are deducted from gross revenue prior to distribution of the net income.

Under the 1974 policy, 25% of the net proceeds are paid to the inventor. If the inventor donates any portion of the proceeds to use in his or her research, TTP will add an equal amount into that University research account from its portion of the royalty income. All such funds shall be used for non-recurring research expenses.

For inventions disclosed to TTP after January 1, 1999, the royalty distribution shall be according to the new Patent and Invention Policy as follows.

A deduction of 20% to cover the legal expenses for patent filing and prosecution and for marketing of the new technologies will be taken annually from the gross license revenue, followed by a deduction for any direct assignable expenses, like patent fees, for the specific case. Income then remaining is the net income, which is distributed as follows.

1. Thirty percent (30%) of the net income to the inventor
2. Twenty percent (20%) of the net income to a University account for the inventor to support the inventor's research. 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.
3. Ten percent (10%) of the net income to the department or departments in which the inventor serves.
4. Five percent (5%) of the net income to the school or center in which the inventor serves.
5. Thirty-five percent (35%) of the net income to the Central Administration to support the Technology Transfer Program operating expenses, to encourage and assist in the development of new patents, or for other appropriate and related purposes, including facilities integral to the invention or discovery.