Virginia Tech
We were able to locate detailed royalty sharing information for Virginia Polytechnic Institute and State University dating as far back as 1986.
An email from a representative of Virginia Tech stated that the school has not changed its patent royalty sharing policy since it was approved in 1986.
Contents
Summary
| Institution | Start | End | Flat | $0-10k | $10-50k | $50-100k | $100-300k | $300-500k | $0.5-1M | >$1M | Fee | Lab | More |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Virginia Tech | 1986 | 2017 | Yes | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 | 0 | No | No |
Policy Excerpts
2015 (Current) Policy Excerpt
2015 Intellectual Property Policy
Revenues generated by the successful commercializations of IPs owned by the University (whether or not protected by patent and/or copyright) shall be shared equally between the University and the originator(s) of the IP, subject to the conditions and exceptions outlined below.
1. Revenues subject to sharing include royalties, licensing fees, incentives, etc. received by the assignee licensor organization, less the costs/expenses described below. Specifically excepted from sharing are payments received and designated for specific purposes such as sponsored or unrestricted research grants, services to the University, research equipment and/or materials, consulting fees to researchers, etc. These payments will go directly to the designated entity and purpose.
2. Also excepted from sharing are revenues resulting from:
a. Tasks and/or activities specifically and explicitly assigned to employees by an administrative unit of the University, or
b. Activities and/or tasks clearly defined in the written, University approved, policy of an administrative unit of the University.
Such revenues, flowing through the University assignee organization, will accrue to the originating administrative unit of the University net of development costs.
3. Expenses to be subtracted from gross revenue before sharing shall be limited to documented direct and indirect costs for protection (patenting), marketing and development of the IP. Specifically excluded are costs incurred in the generation of the IP (i.e. research costs). Development costs shall include (but not be limited to) payments made to (or retained by) non-affiliated organizations (e.g. Research Corp. Technologies, CIT, etc.) involved in the process of commercializing the IPs owned by the University.
4. Non-cash compensation for rights to an IP may be accepted but only with the informed consent of the originator(s) of the IP. The share of net revenue not paid to the originator(s) (50 percent) shall be applied as follows:
a. A portion equivalent to at least 10 percent of total net revenue may be distributed to the originator(s)' primary unit(s) (e.g. Departments, Centers, etc.).
b. The remainder to the University assignee organization (VTIP).
1990 Policy Excerpt
1990 Intellectual Property Policy
Sharing of Royalties
Where the University has an equity position in an intellectual property, the inventor(s) or author(s) and the University will share equally in any income received by or on behalf of the University from royalties, front-end payments, or incentives, after any expenses incurred by or on behalf of the University to protect, market or develop the intellectual property have been repaid to the University. In this context the "University" shall be understood to include all those units (departments, centers, etc.) which have contributed materially towards development of the intellectual property. The University share of royalties or other income shall be divided commensurate with involvement of the University units during development. In usual practice, division of the University share shall follow recommendations of the Committee to the Provost and shall typically include an assignment to the employee's primary unit (e.g., departments, centers, etc.) equal to at least 10% of the total income as defined above. The remaining portion of the University share shall be used to maintain an environment supportive of employee activities in development of intellectual properties.
Payments received by the University or its agents for an intellectual property that is not yet protected by patent or copyright shall also be distributed in accordance with this policy.
