Common use of Patent Policy Clause in Contracts

Patent Policy. Overview The broad mandate of the University of Alberta is to create, preserve and disseminate knowledge for the benefit of all Canadians. The creation of knowledge results from bringing together the intellectual and creative resources of the faculty, researchers, students, staff and other members of the University Community. Those who are part of the University community are the beneficiaries of public resources and share in the commitment of the University to effectively disseminate this knowledge to society. As such, the transfer and Commercialization of new Patentable Intellectual Property (PIP) is important. The efficient protection, commercialization and capitalization of PIP are important elements in maintaining the University’s reputation as a leading centre of research and in the University’s ability to attract the brightest and the best minds. The successful commercialization of PIP must be the result of effective collaboration between the University and the Inventors or creators in a partnership that draws on and recognizes the unique contributions that each party makes to the process. This policy is therefore intended to encourage, but not compel, Inventors to patent PIP and to provide a mechanism for the transfer and commercialization of the PIP that rewards the Inventor and protects the rights of the University. Purpose - Identify the University of Alberta’s commitment to ensuring that PIP that is intended to be exploited shall be disclosed to the University in a timely manner. - Identify University of Alberta policy on the ownership, responsibility for Commercialization, and division of Net Revenue generated by the PIP.