Definitions

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  • “College” shall mean Rhodes College.
  • “Staff” shall mean any member of the faculty, administration, staff, student body, postdoctoral fellow, or visiting scientist, whether or not they receive all or any part of their salary or other compensation from the College.
  • “Inventor” shall mean any Staff member who shall conceive or reduce to practice an invention while engaged in College activities.
  • “Author” shall mean any Staff member who prepares any College copyrightable work.
  • “Contributor” shall mean any Staff member who shall have contributed substantially to the existence of any item of Intellectual Property.
  • “College Activities” shall mean activities engaged in by a member of the Staff by: (a) written assignment of the College administration; (b) contractual agreement with the College or any sponsor; (c) material use of facilities (other than its libraries), or other resources of the College.
  • “Intellectual Property” shall mean inventions, College copyrightable works, and tangible results of research.
  • “Invention” shall mean “…any new and useful process, machine, manufacture or composition of matter or any new and useful improvement thereof…” as defined under the Patent Laws of the United States.
  • “College Copyrightable Work” shall mean copyrightable works owned by the College.
  • “Tangible Results of Research” shall mean a physical embodiment of the research effort, including physical embodiments of any invention, or College Copyrightable Work which results from College Activities by any member of the Staff. Such Tangible Results of Research shall include, but not be limited to antibodies, cell lines, new microorganisms, plant lines or progeny thereof; recombinant or other biological materials; integrated circuit chips, computer software, engineering prototypes and drawings, chemical compounds; devices; machines; and models.
  • “Sponsor” shall mean any individual or organization that by written agreement with the College shall finance in whole or part any College Activities.
  • “New Revenue” or “Annual New Royalty” are defined as revenues received from the licensing and developing of an Intellectual Property after deduction of all costs reasonably attributable to the protection and distribution of such Intellectual Property, including any reasonable expense of patent or copyright prosecution, maintenance, interference proceedings, litigation, marketing or other dissemination and licensing. Net revenues from the following sources are subject to distribution:  option fees; up-front licensing fees; licensing payments; milestone payments; or proceeds from the sale of stock or other equity in the licensee company.