Home About Intellectual Property Intellectual Property Committee UNI Intellectual Property Policy Profiting from Intellectual Property How to Claim Intellectual Property Rights Technologies Available for Licensing Intellectual Property FAQ Contact Information      Site Map		Profiting from Intellectual Property One of the greatest incentives to patenting, copyrighting or securing a trademark is the potential to move the creation into commercial use. The route that best accomplishes this is the pursuit and negotiation of a license agreement with an interested company. The license agreement is written permission for a company to produce or use the creation. A book written by a University professor might also be licensed in order to be printed. A patented technology, such as a new industrial machine, is a good example of something that might be licensed. In exchange, the licensee pays a royalty for the privilege of using the IP. After paying expenses that result from pursuit of most forms of IP (i.e. lawyer fees, application fees, patent searches), the net proceeds are distributed as defined in the University of Northern Iowa Patent Policy. The first $10,000 of profit from the technology is awarded to the creator(s). After this initial award, the profits are shared between the creator(s) and the University. This is referred to as profit sharing. The creator receives 50% of future profits and the University is entitled to the remaining 50% of future profits. The University’s share is distributed to the Research Foundation and the University Sponsoring Unit which receives 20% and 30% of the total profits, respectively. The official policy can be found on the UNI Policies and Proceedures page: http://www.uni.edu/pres/policies/1003.shtml Definitions: Research Foundation - The incorporated unit through which University intellectual properties are managed, and profits from intellectual properties are received, disbursed, and managed. University Sponsoring Unit - The College(s), or Administrative unit outside the College, or the applicable Divisional Vice President which contributes the support for personnel time, procurement, and/or prototype development of the intellectual property. Net Proceeds - The gross receipts derived from trademarks, trade secrets, materials, inventions, discoveries, and/or intellectual properties, including but not limited to, rents, royalties, dividends, earnings, gains, and sale proceeds less development costs.

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