Royalties & Income
When an invention, software or other intellectual property is successfully licensed or commercialized, the revenues are distributed according to the institutional Intellectual Property policy (section 3.4.10 in the Faculty Handbook):
The first ten percent (10%) of all received royalties and license fees will be paid to the University until all direct costs for filing the patent(s), development, and licensing have been reimbursed.
The remainder is distributed:
- One-third (1/3) to the inventor(s)
- One-third (1/3) to the school (the dean consults with the department and determines how it will be further distributed), and
- One-third (1/3) to the University for support of research activities.
The Vice President for Research Affairs is ultimately responsible for equitable distribution of royalties and income and can negotiate variances from this policy on a case-by-case basis. But variances must also have the approval of the school dean and the University Officers.