Issue link: https://htpgraphics.uberflip.com/i/116729
Intellectual Property Section 2 If the company is to work with your institution in the future you will need to put in place obligations of confidentiality between them. You will also need to be clear about the arrangements with the company, since research institutions will not wish to be placed in a position where all relevant future IP automatically goes to the spin-out. This is known as a "pipeline" situation. It will expect to freeze the original deal at a point in time and come to separate arrangements about future IP. Whilst the basic principles of protecting IP are straightforward, applying them can be very complex. Identify a person to also act as IP Manager who can be allocated various roles within the company for this purpose. Alternatively, your institution's IP commercialisation organisation may be able to supply an IP Service for the spin-out. If the company has any registered rights, eg patents, renewals will need to be kept up to date. You can pay for a reminder service! Adopt practices for the identification of new patentable inventions or other IP, which may arise. This could be included as a standard item at project meetings. This is very important because it is a good idea to enhance the strength of the spin-out continuously through a growing portfolio of IP. Look around widely for other relevant or supporting IP. Do you have colleagues at other institutions with whom you could collaborate to develop IP or is there IP elsewhere which could be acquired? New patents can provide an extension in time to the spin-out's base, as patents have a time limit (usually 20 years). Ensure that an IP strategy is a distinct and robust part of your business planning. Set up procedures for the accurate recording of know-how in notebooks and the secure storage of information which will be confidential to the spin-out. A 'sign-off' system can be initiated, particularly in relation to information which is to be published. There may come a point where certain IP is no longer required by the company. For example, the focus of the company's research may shift into different areas. This should be constantly monitored. The company can make money by selling or permitting others to use the IP that is no longer required by the company or you can save money (eg renewal fees) by letting registrations lapse. 13