Intellectual Property

Ownership and procedures for licensing, protecting and using intellectual property that is created or first reduced to practice in the course of performing the MIPS project are highlighted below.

Ownership

• The company owns all intellectual property that is developed solely by the company.
• The university owns all intellectual property that is developed solely by the university.
• The company and university jointly own all intellectual property that is developed jointly by the company and the university.
• The company has no rights to university-owned intellectual property developed prior to or outside of the MIPS project.

Rights to use Intellectual Property

• The company has a nonexclusive license in all intellectual property for research purposes.
• The company has the first option to negotiate an exclusive or non-exclusive, commercial license in all intellectual property.

Royalty and other payments

• The terms of the intellectual property license are negotiated between the company and the university on a case-by-case basis.
• Generally, the company will be responsible for paying all costs associated with patenting or copyrighting intellectual property in which company wants an exclusive license.