Division of Net Royalty and Proceeds: Difference between revisions

Division of Net Royalty and Proceeds (view source)

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-[[Science/Technology Committee]] | [[Royalty/Equity Distribution]]
+[[Science/Technology Committee]] | [[Division of Net Royalty and Proceeds]]
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 Policy No.: '''7001'''<br />
 Effective Date: '''03/16/05'''<br />
-Revised Date: '''02/10/10'''<br />
+Revised Date: '''Draft'''<br />
-Reviewed Date: '''09/20/13'''<br /><br />
+Reviewed Date: '''Draft'''<br /><br />
-<big>'''Policy for Royalty and Equity Distribution'''</big>
+<big>'''Policy for Division of Net Royalty and Proceeds'''</big>
 <br /><br />
 == Basis for Policy ==
-As per RP-4.4.2 Board of Regents Patent and Technology Transfer Policy, the University of Nebraska Medical Center (UNMC) is responsible for allocating non-inventor technology transfer proceeds according to its individual campus policy. These non-inventor proceeds consist of two thirds of the royalties and equity received in return for use of University owned intellectual property rights. Furthermore, University of Nebraska Board of [https://nebraska.edu/-/media/unca/docs/offices-and-policies/policies/board-governing-documents/board-of-regents-policies.pdf Regents Policy] no longer requires that a share of proceeds be distributed to the academic/administrative units of inventors. In order to best utilize non-inventor proceeds and to serve the objectives of the Regents Policy, UNMC shall allocate non-inventor proceeds on a case by case basis as determined by the Committee for Proceed Distribution. Those academic/administrative units having a connection to proceeds at issue shall participate to provide the Committee with information addressing their support of the underlying technology.
 == Membership ==
 Members of the Committee for Proceed Distribution shall be the Vice Chancellor for Business and Finance, the Vice Chancellor for Research, the Vice Chancellor of Academic Affairs, the President of UNeMed, the Patent Administrator and one member at large to be selected annually by a majority vote of the other members. The Committee shall meet at least annually to carry out the function of RP- 4.4.2, Section 5(b).