What happens after I disclose?
OTL works with outside law firms to determine the patentability and marketability of your invention. Together, we will determine the best protection strategy for technologies likely to become commercialized. The licensing team will decide to exert or waive rights to your invention within 120 days from disclosure as specified in the UF Intellectual Property Policy.
From lab to market
- OTL staff review the disclosure.
- A secretary will contact you to set up a meeting with a licensing team
- The team will assist you in evaluating patentability and commercial potential
- The licensing officer decides whether to protect your invention or waive the university’s rights to your invention
- The marketing team drafts a nonconfidential description and targets companies for licensing
- The licensing officer negotiates a license with an outside company
- UF distributes revenue based on IP Policy
- Contract managers monitor agreement milestones for compliance
Distribution of Net Income from Works and Inventions
With regard to any work or invention owned by the University, net income less any foreseeable development expenses the University or UFRF deems necessary to defend or maintain the work or invention (“net adjusted income”) will be distributed as follows:
For net adjusted income up to $500,000:
- 40% individual creator(s)
- 10% program(s)
- 7.5% creator(s)’s department
- 7.5% creator(s)’s college
- 35% VPR or UFRF
For net adjusted income $500,000 or over:
- 25% individual creator(s)
- 10% program
- 10% creator(s)’s department
- 10% creator(s)’s college
- 45% VPR or UFRF
Or call OTL, 352-392-8929. We will be happy to help.