Albert Einstein/Yeshiva
We were able to locate detailed royalty sharing information for Albert Einstein College of Medicine of Yeshiva University dating as far back as 1973.
An email from a representative of Albert Einstein stated that Einstein has had three iterations of its Patent Policy. The first was formally adopted by the Board of Overseers on May 8, 1973. The second on December 3, 1985. The third and the current iteration was formally adopted on April 18, 2007.
2007 Policy
"Official Policy on Patents and Licensing Agreements"
After deduction of direct assignable expenses, fifteen percent (15%) of the remaining income will be allocated to the Office of Biotechnology to defray the operating costs of the Office. The remaining net income will be distributed in the following manner:
- a. One-third will be allocated to the Inventor or his/her estate and/or heirs. All payments due an Inventor under this policy will be transmitted via a separate payment outside of the payroll system. Fringe benefits will not therefore be applicable to such payments, however, such payments will be reported annually to the individual and to the Internal Revenue Service on Form 1099 or on such other forms as may from time to time be required by the Internal Revenue Service. In the event that an Inventor leaves Einstein, the Inventor shall be responsible for providing forwarding addresses to Einstein.
- b. One-third will be allocated to a research account maintained by Einstein on behalf of any Inventor who is an Einstein employee and who is a principal investigator with an established research program, as determined by the Office of the Dean, for support of the Inventor's academic/research pursuits. Such income will be considered incremental funding for the Inventor. In the event that an Inventor leaves Einstein, the research account will revert to Einstein. The Inventor’s research allocation as described above, and the indirect costs to be assessed on this portion of the distribution for each license are as follows:
- (1) The first $30,000 of cumulative income will be free of indirect costs.
- (2) The second $30,000 will be subject to indirect costs at one-half the prevailing institutional rate.
- (3) Cumulative income in excess of $60,000 will be subject to indirect costs at the prevailing institutional rate.
- c. One-third will be allocated to the unrestricted funds of Einstein to be used by Einstein in the pursuit of its education, research and clinical missions.
1985 Policy
1985 "Policy on Patents and Licensing Agreements"
The earlier 1985 policy differs in that the 15% administrative fee is not deducted before the inventor's royalty share is calculated. The inventor still receives one-third of net income as personal income and one-third for research support, with the remaining one-third being allocated to the College.
1973 Policy
Under the original policy, for inventions stemming from government or nonprofit funding, the inventor received 50% of the first $3000 of gross income, 25% of gross income between $3000 and $13,000, and 15% of gross income above $13,000.
