Invention Disclosure
- Faculty information about rights and responsibilities
- Revenue to Inventors
- University of Arkansas for Medical Sciences (UAMS) Disclosures
- Intellectual Property Management Role of UAMS BioVentures
- Commercialization and Conflicts of Interest
- Sources of Additional Information
Faculty information about rights and responsibilities
The University's current procedures are based on the legal requirements of the Bayh-Dole Act of 1980, federal funding agencies and from the University of Arkansas Board of Trustees' policy regarding intellectual property, technology commercialization (BOARD POLICY 210.1 - PATENT AND COPYRIGHT POLICY) and conflicts of interest (UAMS' Conflict of Interest Policy. Revised October 1, 1995 is located at: http://www.uams.edu/ora/conflict1.htm). Faculty members have an obligation to disclose to the University all discoveries made during the course of both their employment and their students' studies. Visitors using University facilities, or receiving University funding, also must submit invention disclosures.
Invention/Discovery Disclosures should be promptly submitted to the TLO. If there is any doubt about ownership of an invention, the Primary Investigator must raise this question at the time the disclosure is submitted for the campus Patent and Copyright Committee's review.
Revenue to Inventors |
Additional UAMS policy can be found in the UAMS Administrative Guide, No. 12.1.05, Date: 07/15/96, Subject: Distribution of Royalties from Patents, Copyrights and Licenses. http://www.uams.edu/adminguide/WIN12105.html
If an invention is commercialized, the inventors share in any revenue stream and may receive equity in any UAMS startup company that might be formed. Under University policy, after patent costs are reimbursed, the Inventor, or the Inventor's heirs, successors, or assignees shall receive fifty percent (50%) of the first two hundred thousand dollars ($200,000) of net royalties or other net income from the commercialization of an Invention. The remaining fifty percent (50%) shall be distributed to the University in the following manner: forty-five (45%) to the chief operating officer of the Inventor's campus or division for distribution within the campus or division for patent administration and research purposes; and five percent (5%) to a fund to be managed and distributed by the University of Arkansas for patent administration and research purposes. Any net royalties or other net income above $200,000, after patent costs are reimbursed, shall be distributed as follows: (a) thirty-five percent (35%) to the Inventor or the Inventor's heirs, successors, or assigns; (b) sixty percent (60%) to the chief operating officer of the Inventor's campus or division for distribution within the campus or division for patent administration and research purposes; and (c) five percent (5%) to a fund to be managed and distributed by the University for patent administration and research purposes. Royalties will be distributed normally on an annual basis, with payments being made within sixty (60) days after the end of a calendar year in which royalties from the Invention have accrued. Note: Net royalties are for this purpose defined as gross royalties received by the University minus the costs for patenting, licensing, and the protection of patent rights and copyrights.
Disclosures at the University of Arkansas for Medical Sciences |
Contact UAMS BioVentures staff to obtain a current copy of the UAMS Invention Disclosure Form, telephone (501) 686-6696. UAMS BioVentures, acting on behalf of UAMS, Arkansas Children's Hospital and Central Arkansas Veterans Healthcare System, receives and registers all invention disclosures, obtains decisions on disputed ownership, insures compliance with terms set by contractual obligations, and coordinates the UAMS Patent and Copyright Committee meetings.
Inventors should utilize UAMS BioVentures' staff to obtain all the information needed on disclosing, patenting and commercializing discoveries. In turn UAMS BioVentures' staff will solicit suggestions from the inventor concerning potential commercialization pathways. Inventors can expect to be informed of progress, changes in the time line, and, eventually, reasons for the commercialization decision.
The UAMS Patent and Copyright Committee decides whether or not to recommend to the UAMS Chancellor and the University System President if an invention for patenting and commercialization based on two criteria: (1) Is the invention "protectable" i.e., can it be patented, trade marked, copyrighted or kept a trade secret; and (2) is the invention likely to become a commercially feasible product. If the answer to both questions is positive, the invention disclosure, in most cases, begins the protection process and a commercialization strategy is formulated.
If the UAMS Patent and Copyright Committee elects not to commercialize an invention, the University System may release the rights to the Inventor(s). UAMS, in turn, may be required to release the rights to any sponsors of research giving rise to the invention.
Intellectual Property Management Role of UAMS BioVentures |
UAMS BioVentures' strives to maximize the industrial interactions for UAMS by developing commercial partnership to facilitate technology transfer, create startup biotech companies, and improve Arkansas' economic development. UAMS BioVentures is the hub connecting UAMS' basic research to the global life sciences industry.
UAMS BioVentures' staff is available to assist faculty and students during both the research phase and the commercialization process when Material Transfer and/or Confidentiality Agreements are required. UAMS BioVentures provides the institutional review of these agreements and negotiates the terms of all license agreements.
Additionally, Patenting, Technology Transfer and Commercialization Workshops are available for your group, please call UAMS BioVentures (686-6696) to schedule this opportunity.
Commercialization and Conflicts of Interest |
The full text of UAMS' Conflict of Interest Policy. Revised October 1, 1995 is located at: http://www.uams.edu/ora/conflict1.htm.
The fundamental values of UAMS include the highest standards of research integrity and objectivity. Thus, no conflict of interest on the part of academic staff members can be permitted to influence the design, conduct, or reporting of research.
A conflict of interest is defined as a divergence of interests away from professional obligations to the Institution or to external sponsors of research or other activities toward an individual's private or personal interests. Under these conditions, an unbiased observer would find it difficult to determine whether the individual's professional actions or deeds are determined by personal considerations of gain, financial or otherwise not in the best interest of the Institution and sponsor.
Appropriate transfer of technology can make the results of research more quickly available for the good of the public and can assist the State in commercial development and expansion of its economic base. Accordingly, efforts to commercialize or otherwise make quickly and widely available the results of new knowledge are encouraged.
In particular, a conflict of interest exists in, but is not limited to, situations where a Significant Financial Interest could directly and significantly affect the design, conduct, or reporting of research.
Sources of Additional Information |
Information on UAMS polices and practices concerning intellectual property and the commercialization of technology is available through the UAMS Web site: http://www.uams.edu/ .
- UAMS Patent and Copyright Committee http://www.uams.edu/patent/
- UAMS Faculty Handbook - Patent and Copyrights
- Distribution of royalties from patents, copyrights and licenses. http://www.uams.edu/adminguide/WIN12105.html
- UAMS' Conflict of Interest Policy. Revised October 1, 1995 http://www.uams.edu/ora/conflict1.htm)
Available from UAMS BioVentures, please call (501) 686-6696
- Invention Disclosure Form
- Material Transfer Agreement (MTA)
- Confidentiality Agreements (CDA)
- Patenting, Technology Transfer and Commercialization Workshops
Related Web Sites:
U.S. Patent and Trademark Office http://www.uspto.gov/patft/
Office of Research and Sponsored Programs http://www.uams.edu/orsp/index.shtm
ADED http://www.1-800-arkansas.com/
ASTA http://www.asta.arkansas.gov/
Arkansas Capital http://www.arcapital.com/
Arkansas Economic Acceleration Foundation http://aeac.arcapital.com/
Accelerate Arkansas http://aeac.arcapital.com/accelerate_arkansas.html
Arkansas Bioscience Institute http://www.arbiosciences.org/
CFO network http://www.cfonet.biz/
University of Arkansas, Fayetteville TLO http://www.uark.edu/ua/techip/
Various Task Forces - Contact UAMS BioVentures, please call (501) 686-6696
