Outside Sponsored Research Sample Clauses

Outside Sponsored Research. Under the terms of certain contracts and agreements between the University and various agencies of government and/or private and public corporations, the University is, or may be, required to assign all patent rights to the contracting party. The University retains the right to enter into such agreements whenever such action does not violate the spirit of this Article and is considered to be in the best interests of the University. The inventor or inventors shall be informed of all such agreements prior to final negotiation. In the event that income accrues to NYIT from the administration of a patent or invention in which the University has an interest, fifty percent (50%) of the net income, if any, shall be paid to the inventor or inventors, his/her or their heirs, executors, administrators or assignees, and fifty (50%) of the net income, if any, shall be received by the University, unless otherwise agreed between the parties. The University must provide a detailed description of how net income will be calculated at the inception of the project.
Sample 1
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Related to Outside Sponsored Research

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