Issue link: https://htpgraphics.uberflip.com/i/112322
IDEA DISCLOSURE TO UMIP ASSESSMENT DISCUSSION/DECISION PROTECTION DEVELOPMENT MARKETING CONTRACTING TRADING REVENUE The timescale for protecting and commercialising IP varies and the process can be very costly. The discussions which you have with UMIP should set out a reasonable initial timetable and regular review points. However, circumstances may change as the process develops. Your involvement with the process will be extremely important, whether it is in providing additional information or attending meetings with potential licensees/investors. In the course of commercialising IP, the University may be asked by project partners or sponsors to give warranties or indemnities in relation to the IP. These are basically promises or guarantees about the IP which, if they turn out to be untrue or inaccurate, could make the University liable for substantial sums of money. As a charitable organisation, the University cannot expose its assets to unnecessary risk. You should therefore bear in mind that it is not the University���s policy to grant IP warranties or indemnities. This is detailed in Appendix 4 of the IP Policy. It may of course be that, having examined the IP you have created, UMIP decides not to commercialise it. If you are able to show that, for whatever reason, UMIP is not progressing the commercialisation in a timely manner, then it will be deemed to have decided not to commercialise that IP. In these cases, you (together with any other creators of the IP) can ask for it to be transferred to you. The University will agree to do so, but it will need a licence to use such IP for its administrative, promotional, educational and teaching purposes. In some cases, it may also be that the University employee who has created IP is actually better placed than UMIP to lead its commercialisation because, for instance, they have access to particular resources or industry contacts. In cases where UMIP does not agree with such an employee request, it is possible to apply to the Vice President for Research and Innovation asking for the IP to be assigned to its creator(s). The decision will be taken by the Registrar and Secretary, who will take into account the creator(���)s(���) commercialisation experience and their network of prospective external partners. 29