University patent policy revised

On Aug. 23, University Policy 301, Patent Policy was revised with the following changes:

• Provide more user-friendly headings and organizational flow
• Increase the percentage of net revenue payable to the inventor(s) to a flat 50 percent to encourage and support research and development activities
• Authorize the director of technology transfer to act independently of the Patent Committee in order to increase efficiency in straight-forward or routine matters and to allow the director to process ownership claims during the summer break when the committee does not meet
• Clarify the bases upon which the University asserts ownership in employees’ inventions and the obligation to assign ownership to the University immediately upon invention as a condition of employment or enrollment
• Clarify the limited bases upon which the University will claim ownership of student inventions