Intellectual Property simply defined is any form of knowledge or expression created with one's intellect. It includes such things as inventions; computer software; trademarks; literary, artistic, musical, or visual works; and even simply know-how. There are various forms of statutory protection for Intellectual Property, but the two that are most likely to be relevant in the University environment are copyright and patents. | Lecture 28 Intellectual Property(Cont’d) Intellectual Property simply defined is any form of knowledge or expression created with one's intellect. It includes such things as inventions; computer software; trademarks; literary, artistic, musical, or visual works; and even simply know-how. There are various forms of statutory protection for Intellectual Property, but the two that are most likely to be relevant in the University environment are copyright and patents. Introduction Who Owns It? Depends on the circumstances of the Project, nature of funding and the policies of the institution Grant – Institution should own Collaboration – Each should own IP it creates Service contract – Sponsor should own Regardless of inventor/institution policy, in the IP clause it is better to have ownership vest in Institution in the first instance If you are giving up ownership of IP in agreement make sure you own it in the first place I am paying for it so I should own it. In a . | Lecture 28 Intellectual Property(Cont’d) Intellectual Property simply defined is any form of knowledge or expression created with one's intellect. It includes such things as inventions; computer software; trademarks; literary, artistic, musical, or visual works; and even simply know-how. There are various forms of statutory protection for Intellectual Property, but the two that are most likely to be relevant in the University environment are copyright and patents. Introduction Who Owns It? Depends on the circumstances of the Project, nature of funding and the policies of the institution Grant – Institution should own Collaboration – Each should own IP it creates Service contract – Sponsor should own Regardless of inventor/institution policy, in the IP clause it is better to have ownership vest in Institution in the first instance If you are giving up ownership of IP in agreement make sure you own it in the first place I am paying for it so I should own it. In a collaborative research project a sponsor is never paying the full cost of the research. Overhead alone do not account for the resources that the institution is bringing to the project (including the PI’s expertise and often matching funding). In a collaborative project the parties are working together and thus should both benefit from the results. Ownership in a Collaborative Project Company shall own all Foreground Intellectual Property conceived entirely by Company personnel (“Company IP"). University shall own all Foreground Intellectual Property conceived entirely by University personnel ("University IP"). The Parties shall jointly own any Foreground Intellectual Property conceived of by at least one individual employed by Company and at least one individual within the University (“Joint IP”). Each Party agrees to disclose promptly to the other Parties any and all Foreground Intellectual Property created by or on behalf of that Party under the Project to the other Parties regardless of
