Board of Visitors minutes October 7, 1978 | ||
Distribution of Royalties to the Inventor(s)
In general, the inventor(s) will receive from any product of University research fifteen percent of the gross royalties which accrue from inventions for which the University obtains a patent.
An institutional agreement between the University and an outside patent management firm, such as the University of Virginia Alumni Patents Foundation or Research Corporation, or between the University and a Federal agency, such as the National Institutes Of Health, will specify a distribution of royalties.
Individual grants or contracts for sponsored University research with public or private agencies may specify an assignment of patent(s) ownership and distribution of royalties of which the researcher shall be informed before research is conducted under such an award or contract.
Board of Visitors minutes October 7, 1978 | ||