UFRF Overview

1. How the Research Foundation Works

Research-generated inventions and copyrights with commercial value may be assigned to the University of Florida Research Foundation, Inc. (UFRF) for marketing to private industry. Use of the UFRF permits greater flexibility in arranging license agreements, direct investment of income, and holding equity positions than is possible directly through the University. All income received from license agreements and equity positions originally granted to UFRF by a licensee, in lieu of cash royalties or license fees, will be distributed to inventors, colleges, departments, and programs in accordance with the University of Florida Intellectual Property Policy. The remaining share will be used to support technology transfer of the University work products and for the direct support of research at the University of Florida.

2. Board of Directors and Officers

The UFRF’s Board of Directors consists of the following voting members: an individual appointed by the Chair of the University of Florida Board of Trustees; the President of the University of Florida; the Provost; the senior vice presidents or vice presidents for Research, Business Affairs, Health Affairs and Agricultural and Natural Resources; the deans of the colleges of Engineering and Liberal Arts and Sciences; and three additional voting members nominated by the President of the University of Florida and elected by a majority of the members of the Board of Directors to serve in staggered three years terms. The Board of Directors also elects a President, Secretary, and Treasurer as officers of the UFRF.

3. Invention Disclosure Procedures

A Work or Invention that is made in the field or discipline in which the Creator is engaged by the University, or made with the use of University Support, is the property of the University. The Creator and the Creator’s department shall share in the proceeds therefrom subject to preexisting commitments to outside sponsoring agencies. An Invention or Work made outside the field or discipline in which the Creator is engaged by the University, and for which no University Support has been used, is the property of the Creator.

University Personnel are required to disclose promptly, pursuant to the disclosure procedures, all their Inventions and University-supported Works to UF Innovate | Tech Licensing. All Inventions must be disclosed, even those the Creator believes to be unrelated to their University duties and not involving the use of University Support.

4. Royalty Distribution

The UFRF pays all costs of the patent application process including travel and attorney fees, and active licensed production. The UFRF is also responsible for the development and negotiation of licensing agreements to ensure that each invention is managed to best serve the public interest once a patent application has been filed. Net income (gross royalties less the direct cost of patenting, licensing, legal, and other related expenses) resulting from the inventions, to which the UFRF takes title, will be allocated according to the University of Florida Intellectual Property Policy.

5. Disbursement

UFRF Funds should be spent in accordance with the purpose and bylaws of the UFRF which is to support the University of Florida in the funding of research and development, and the commercialization of intellectual properties. Expenses may include:

• Payment of legal fees associated with patent and copyright applications, maintenance, licensing agreements, and infringement defense
• Support of University research programs broadly, investment in research with the potential for technology transfer, and commercialization opportunities
• Expenses related to economic development, research parks, University/industry agreements, license agreements, and technology transfer
• Expenses related to the function and administration of the UFRF.

The use of UFRF funds must comply with all applicable statutes and regulations, and must not jeopardize the UFRF’s tax-exempt status.

6. Regulations Affecting Purchases

The UFRF follows University Purchasing Directives.

1. Code of Ethics and Standard of Conduct
   All University personnel engaged in the purchasing cycle are bound by the UF Code of Ethics and Standard of Conduct.

2. Conflict of Interest
   UFRF adheres to the same procurement guidelines as the University of Florida under Florida Statue 112.313 and UF Policies.

   All University of Florida personnel having a financial interest in a private concern doing business with UFRF shall submit an Outside Activity disclosure in accordance with UF Policy prior to any business transactions involving the private concern and the UFRF.

3. Gratuities
   It shall be a breach of ethical standards for any personnel to accept a gratuity of any kind in connection with any purchasing decision.

Revised October 2021