Intellectual Property. Rajkumar Lakshmanaswamy, PhD
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1 Intellectual Property Rajkumar Lakshmanaswamy, PhD
2 Intellectual Property Patents Trademarks Copyrights
3 Life & Duration Life of utility patent - 17 years from date of issue of Patent if application filed before June 95 or 20 years from date of filing application after June 95 Effective only in the U.S. (foreign patent applications filed separately).
4 What Is A Patent? Grant by the U.S. Government to provide individuals legal protection for their inventions and discoveries. The US Congress is empowered to promote the progress of science and useful arts by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries. Gives the patent owner the right to prevent others from making, using or selling the claimed invention within the United States or Country of Issue.
5 What Does a Patent look Like?
6
7 Trademarks A trademark identifies tangible good or product of a company or individual. Servicemarks SM A service mark identifies the service s of a provider. Trade names Trademark It is usually a company business name.
8 Copyrights Copyright law protects the expression of an idea. Copyright protects: original works of authorship fixed in any tangible medium of expression, now known or later developed, from which they can be perceived, reproduced, or otherwise communicated, either directly or with the aid of a machine or device. (17 U.S.C. 102)
9 CRADA = Cooperative Research and Development Agreement Participants are able to leverage resources like manpower, facilities and funding Technical problems are solved more effectively by a team Federal tax dollars are more effectively utilized
10 Texas Tech University System (TTUS) Intellectual Property Policy The intellectual property policy, shall apply prospectively to all persons employed by the component faculties of TTUS, to all students of TTUS, and to anyone using TTUS facilities or under the supervision of TTUS personnel.
11 Texas Tech University System (TTUS) Intellectual Property Policy Every employee, faculty, staff, or student is expected to be aware of the TTUS policies regarding such developments or discoveries protectable by copyright, patent, or contract and agrees to accept and abide by them as a condition of employment or enrollment.
12 Texas Tech University System (TTUS) Intellectual Property Policy Fosters the traditional freedoms of the TTUS faculty, staff, and students in matters of publication and invention, through a fair and reasonable balance of the equities among authors, inventors, sponsors, and TTUS.
13 Texas Tech University System (TTUS) Intellectual Property Policy Outlines the respective rights that members of the faculty, staff, and students have in intellectual materials created while they are affiliated with TTUS.
14 Texas Tech University System (TTUS) Intellectual Property Policy As a public institution, TTUS is entrusted with the responsibility to facilitate application of scientific, technical, artistic, and intellectual endeavors of its faculty and staff for public use and to provide for an equitable disposition of interests among the authors and inventors, TTUS, and, where applicable, the sponsoring or contracting funding source.
15 Ownership of Discoveries In general, inventions, innovations, discoveries and improvements, biological materials and other proprietary materials and plants (i.e., intellectual property - see section 11), made with the use of TTUS facilities or during the course of regularly assigned duties of the faculty and staff shall become the property of TTUS.
16 Ownership of Discoveries Employees and others who are subject to this policy by virtue of their use of TTUS services or facilities shall, upon request, assign all applicable intellectual property to TTUS, except those which might be owned by third parties pursuant to sponsored research agreements and those resulting from independent work or approved consulting activities not utilizing TTUS facilities.
17 Research Involving Third Party In research sponsored by or involving third parties, provisions for the control of and compensation for patents should normally be consistent with the general policy stated herein. However, nothing in this policy shall be interpreted as precluding the acceptance of a contract, grant, or agreement that provides for ownership of intellectual property by the sponsor with appropriate compensation.
18 Disclosure of Intellectual Property All intellectual property shall be promptly disclosed to the Office of Technology Commercialization (OTC). At least once a year, coincidental with a regular board meeting, the director of OTC shall prepare for the chancellor and the Board a report listing the titles and a brief description of each disclosure received since the last report.
19 Intellectual Property Administration When TTUS elects to protect intellectual property in its name, it shall award to the inventor or creator a reasonable share of net proceeds from royalties or other income or value after deduction of the directly assignable costs of patenting, marketing, licensing and protection of intellectual property rights.
20 Distribution of Income from Copyrightable Works TTUS shall be entitled to all income from distribution or commercialization of institutional works. In cases where TTUS conducts the commercialization or distribution of the copyrightable work, the distribution of net income after expenses of creation and distribution shall be as follows: fifty percent (50%) to TTUS and fifty percent (50%) to the author.
21 Distribution of Income from Copyrightable Works In the event of multiple authors, the authors will agree among themselves as to the distribution of the income accruing to the authors; distribution of the authors' share shall be made only upon receipt of a signed agreement between the authors.
22 Equity and Other Non-monetary Returns Inventors and authors may receive up to fifty percent (50%) of any equity or other nonmonetary consideration (or, in the discretion of TTUS, its monetary equivalent) received by TTUS or its components under this section. TTUS does not act as a fiduciary for any person concerning equity or other consideration received under the terms of this regulation.
23 Distribution of Income from Commercialization and Licensing Net Royalty Individual TTUS Department* Unit** $0-$100,000 50% 30% 10% 10% $100,001- $50,000 30% 15% 15% $500,000 plus 40% 30% 15% 15% of amount over $100,000 $500,000 -up $210,000 plus 30% As set by Board of Regents $30% of amount over $500,000
24 Thank You
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