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2003 SESSION

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HB 2285 Authorization to transfer; patents & copyrights of higher ed institut.

Introduced by: Jeannemarie Devolites | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Authorization to transfer interest in patents and copyrights owned by institutions of higher education. Authorizes institutions of higher education to transfer intellectual property in which it has an interest to a private entity without the Governor’s approval if (i) the interest was developed without the use of federal funds, (ii) the private entity makes a clear and convincing case to the relevant board that its ownership of the interest is critical to its ability to commercialize that interest, and (iii) the institution receives, at a minimum, compensation equal to the anticipated revenue stream of licensing the interest.

SUMMARY AS PASSED HOUSE:

Authorization to transfer interest in patents and copyrights owned by institutions of higher education. Authorizes institutions of higher education to transfer intellectual property in which it has an interest to a private entity without the Governor’s approval if (i) the interest was developed without the use of federal funds, (ii) the private entity makes a clear and convincing case to the relevant board that its ownership of the interest is critical to its ability to commercialize that interest, and (iii) the institution receives, at a minimum, compensation equal to the anticipated revenue stream of licensing the interest.

SUMMARY AS INTRODUCED:

Authorization to transfer interest in patents and copyrights owned by institutions of higher education. Authorizes institutions of higher education to transfer intellectual property in which it has an interest to a private entity without the Governor’s approval if (i) the interest was developed without the use of federal funds, (ii) the private entity makes a compelling case to the relevant board that its ownership of the interest is critical to its ability to commercialize that interest, and (iii) the institution receives, at a minimum, compensation equal to the anticipated revenue stream of licensing the interest.