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Lecture 28 Intellectual Property(Cont’d) Introduction Intellectual Property simply defined is any form of knowledge or expression created with one's intellect. It includes such things as inventions; computer software; trademarks; literary, artistic, musical, or visual works; and even simply know-how. There are various forms of statutory protection for Intellectual Property, but the two that are most likely to be relevant in the University environment are copyright and patents. Who Owns It? • Depends on the circumstances of the Project, nature of funding and the policies of the institution – Grant – Institution should own – Collaboration – Each should own IP it creates – Service contract – Sponsor should own • Regardless of inventor/institution policy, in the IP clause it is better to have ownership vest in Institution in the first instance • If you are giving up ownership of IP in agreement make sure you own it in the first place I am paying for it so I should own it... In a collaborative research project a sponsor is never paying the full cost of the research. Overhead alone do not account for the resources that the institution is bringing to the project (including the PI’s expertise and often matching funding). In a collaborative project the parties are working together and thus should both benefit from the results. Ownership in a Collaborative Project Company shall own all Foreground Intellectual Property conceived entirely by Company personnel (“Company IP"). University shall own all Foreground Intellectual Property conceived entirely by University personnel ("University IP"). The Parties shall jointly own any Foreground Intellectual Property conceived of by at least one individual employed by Company and at least one individual within the University (“Joint IP”). Each Party agrees to disclose promptly to the other Parties any and all Foreground Intellectual Property created by or on behalf of that Party under the Project to the other Parties regardless of whether or not capable of protection by patents, copyrights, industrial designs or design patents. Grant of Rights • What rights of use that are given to the sponsor (or institution) again depends on the nature of the project, the type of funding and the policies of the institution • A license is the right of the party to use the IP. Can be limited by field, duration, geographical area, or exclusivity • An exclusive right means that the only person that can use the IP is the licensee – even to the exclusion of the owner Grant of Rights • Grant of rights should be given as a time limited option. The length of time depends on the nature of the IP & industry. • Try to avoid setting royalty rates in the research agreement • Once Sponsor turns down option you should have freedom to deal with IP as you see fit. Retained Rights • If you do not own the IP or are granting an exclusive right to use the IP to someone then you need to retain the right to use the IP for your researcher. • This would include the right to use the IP for research, teaching, publication purposes • Be aware of how giving up ownership of IP affects the rest of the agreement, particularly the publication clause and confidentially clause Right to assign IP to Inventors The University may assign all right, title and interest which the University may in the future have in University IP and Joint IP to the University inventors according to the University’s Inventions Policy and to the terms and conditions of this Agreement. Indemnity/Liability • Important not to be responsible for use of the IP by the sponsor Indemnity. The Company shall indemnify and save harmless the University ..... against all ... claims ... resulting from the use by the Company or its affiliates, its customers or licensees of any deliverable or intellectual property developed by the University or the Company under this Agreement.