Proceeds from Distribution of Intellectual Property
Proceeds from Distribution of Intellectual Property:
1. Invention Proceeds. Subsequent to the College’s recovery of funds that were invested in patenting, marketing or developing Intellectual Property, the Contributor(s) and the College will share in the net revenue received from the Contributor’s Intellectual Property(ies) owned by and licensed from the College. The Contributor(s) will receive 50% of the net revenues, and the College will receive 50%. It is understood that one-half of the College’s portion will be for the primary purpose of advancing and encouraging further research and intellectual property development within Rhodes College.
In the case of multiple Inventors, the Inventors’ share will be distributed among the Inventors in accordance with a written agreement signed by all Inventors; or, if there is no such agreement, all Inventors will receive an equal share.
If inventorship is shared among College Inventors and inventors at one or more other institutions, the College will negotiate with the one or more other institutions concerning exclusive licenses and distribution of revenues. College net revenues from such agreements will be distributed to inventors at the College using the distribution formulae discussed above.
2. Copyright Proceeds. These will follow the same distribution and stipulations as Inventions listed above.
3. Tangible Results of Research Proceeds. To the extent allowed by law, where any Tangible Result of Research is not within the scope of the claims of a patent, patent application, or copyright, each Contributor shall share in any net revenue or annual net revenue to the same extent a Contributor shares in proceeds listed above for Inventions and Copyrights.