Administration of the License

Since the licensing of technology provides a financial benefit, UNCG will share the revenue it receives from patents and commercialization opportunities with the inventor(s). OTT will be responsible for receiving all royalty reports and payments resulting from the license agreement and will ensure that all revenue payments received by licensees are for the correct dollar amount specified by the licensing agreements.

OTT will distribute the inventor’s share of the royalties and fees as specified in UNCG’s Patent and Invention Policy. OTT will be responsible for auditing the performance of the licensee to ensure compliance with license conditions. The revenues which the University receives from a patent or invention will be applied first to reimburse the University for any incremental expenses incurred throughout obtaining and maintaining patents and/or in marketing, licensing and defending patents or licensable inventions. After provision for such expenses, the inventor’s share of such revenues received by the University shall be distributed as follows:

The University provides an array of administrative services to its inventors to assist them in protecting rights to University Intellectual Property, in satisfying requirements imposed by sponsors of the research and in fostering commercial development.

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