Undergraduate Catalog > University Policies > Research Activity and Intellectual Property > Appendix M - Intellectual Property Policy > VII. Distribution of Income

VII. Distribution of Income

A. Financial Responsibility and Costs

1. The University of Findlay assumes financial responsibility for Intellectual Property to which it takes ownership. This responsibility may include, but is not limited to, the costs of assessing patentability, filing and maintaining Patents, registering Copyrights, marketing and licensing Inventions, Electronic Courses, and copyrighted works and paying Royalties. The University is not, however, obligated to protect or commercialize any particular Invention or copyrighted work, unless it has made an explicit contractual commitment to do so. Activities related to the protection and marketing of University Intellectual Property are intended to be self-supporting. Thus, the supervising vice president or senior officer designated by the President is charged with the responsibility of using the University’s resources carefully, with a view to promoting the pecuniary interests of the University as a whole.
2. Royalties earned from the sale, licensing or other transfer of Intellectual Property of the University shall be received solely by the University and shall, except where a grant or SRA specifies otherwise, be distributed successively as follows: 1) Reimbursement of the University and its agents for all direct expenses related to prosecuting and maintaining Intellectual Property protection and securing licenses; 2) A $10,000 base amount will be paid to the Inventor/Author before percentages take effect; 3) Of the remainder, 50% to the Inventor or Author, 25% to the University and 25% to the Inventor or Author’s college. For Inventions disclosed prior to the effective date of this Policy, Royalties shall be distributed according to the Policy in effect at the time the Invention Disclosure was filed.
3. Where there is more than one Inventor or Author, distribution shall be prorated according to the contribution of each as may be agreed in writing between the parties, or, if an agreement cannot be reached, then according to section X., Dispute Resolution.
4. Royalties are payable to Inventors or Authors only upon actual receipt or monies by the University attributable to the Intellectual Properties. In the case of the death of an Inventor or Author, all Royalty distributions which would have been due such person shall be paid to his or her estate or testamentary designation.