Q: I disclosed my invention to Indiana University Research and Technology Corporation. It’s been licensed to a company that is selling it on the market. Where does the revenue go?
A: IURTC distributes the net revenue to researchers and their laboratories. Thirty-five percent of the revenue goes to the inventor, and 15 percent goes to the inventor’s laboratory. The inventor’s campus receives a share of the remainder. Each campus determines what to do with its share. Most distribute it to schools, departments, and centers. Sometimes it goes to new faculty recruitment or new building funds. A percentage of the revenue supports IURTC and its efforts to protect, manage, and market the intellectual property.
Q: Who decides how the revenue is distributed?
A: Revenue is distributed in accordance with the IU Intellectual Property Policy, which is determined by the IP Policy Council and a faculty committee. They provide the proposed policy to the University Faculty Council, which approves it and sends it to the Indiana University Board of Trustees. The original proposal was approved in 1997, and it was revised in 2008, 2013, and 2014.
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Bill Brizzard is director of technology commercialization for the Bloomington campus for the Indiana University Research and Technology Corp. IURTC helps researchers across all campuses in the IU system bring promising research and innovations to market. You can contact Bill at bbrizzar@iu.edu, 812-855-3597.
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