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Division of Net Royalty and Proceeds: Difference between revisions
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Policy No.: '''7001'''<br /> | Policy No.: '''7001'''<br /> | ||
Effective Date: '''03/16/05'''<br /> | Effective Date: '''03/16/05'''<br /> | ||
Revised Date: ''' | Revised Date: '''05/03/21'''<br /> | ||
Reviewed Date: ''' | Reviewed Date: '''05/03/21'''<br /> | ||
<big>'''Policy for Division of Net Royalty and Proceeds'''</big> | <big>'''Policy for Division of Net Royalty and Proceeds'''</big> | ||
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:b. Two-thirds in accordance with a separate distribution policy to be established and implemented by each University campus, such policy to take effect following approval by the Board of Regents upon recommendation of the relevant campus’ Chancellor.” | :b. Two-thirds in accordance with a separate distribution policy to be established and implemented by each University campus, such policy to take effect following approval by the Board of Regents upon recommendation of the relevant campus’ Chancellor.” | ||
== Policy == | == Policy == | ||
The University of Nebraska Medical Center implements this policy, consistent with RP-4.4.2, which outlines the distribution of royalties and other proceeds from the commercialization of technology. <br /> | |||
1. To assure that the University is reimbursed for all costs associated with protecting and commercialization of the particular technology, the following expenses shall be recouped prior to any further distribution of proceeds from the technology: | 1. To assure that the University is reimbursed for all costs associated with protecting and commercialization of the particular technology, the following expenses shall be recouped prior to any further distribution of proceeds from the technology: | ||
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4. For inventions with inventors from multiple colleges/institutes, the individual college/institute portion will be proportional to the contribution of faculty agreed upon in section 2.a. above. <br /> | 4. For inventions with inventors from multiple colleges/institutes, the individual college/institute portion will be proportional to the contribution of faculty agreed upon in section 2.a. above. <br /> | ||
5. For intercampus collaborative projects, intellectual property | 5. For intercampus collaborative projects, intellectual property protection/prosecution efforts will be led by the campus with the majority interest in the invention. Net royalties will be divided between campuses based on their equity share in the intellectual property and distribution of net royalties within each campus will be dictated by the relevant campus policy. <br /> | ||
6. If equity is taken in lieu of royalties that otherwise would be distributed under this policy, the equity will be held by UNeMed. Any dividends or proceeds from liquidation of the equity interest shall be distributed in accordance with this policy as though they were royalties. | 6. If equity is taken in lieu of royalties that otherwise would be distributed under this policy, the equity will be held by UNeMed. Any dividends or proceeds from liquidation of the equity interest shall be distributed in accordance with this policy as though they were royalties. | ||
==Additional Information== | ==Additional Information== | ||
*Contact UNeMed or the [mailto:jnickla@unmc.edu Director, UNeMed] | *Contact UNeMed or the [mailto:jnickla@unmc.edu Director, UNeMed] | ||
*University of Nebraska Board of [https:// | *University of Nebraska Board of Regents [https://nebraska.edu/-/media/unca/docs/offices-and-policies/policies/board-governing-documents/board-of-regents-bylaws.pdf?la=en Bylaws] | ||
*University of Nebraska Board of Regents [https://nebraska.edu/-/media/unca/docs/offices-and-policies/policies/board-governing-documents/board-of-regents-policies.pdf?la=en Policies] | |||
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This page maintained by [mailto:dpanowic@unmc.edu dkp]. | This page maintained by [mailto:dpanowic@unmc.edu dkp]. | ||