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WHAT CAN I DO WITH IP THAT I CREATE? For IP to be of any value, you need to consider whether it is adequately protected and how it can best be put to practical or commercial use. Remember that even the most brilliant new inventions and ideas will only make a difference to innovation and lead to economic impact once they have been "brought to life" through effective commercialisation or knowledge transfer. Revenues earned from such IP can also be re-invested into the Schools that generated it, which benefits all members of the University. The University therefore actively encourages the commercialisation of IP, although it will not support any IP-related project or contract which contravenes its social or ethical policies or which might adversely affect its reputation. UMIP The reputational and financial rewards from commercialisation can be substantial, but the process requires careful management, often over a long period. UMIP plays a central role in identifying potentially valuable IP and ensuring that it is successfully transferred into the marketplace, in order for it to benefit scientific progress and society as a whole as well as generating a surplus for the University which includes covering the cost of providing an annual IP and technology transfer service to staff. UMIP has access to a wide network of industry contacts and many years of experience in technology transfer, making it 24 ideally placed to advise on IP issues and lead the commercialisation process. Wherever you are based in the University, UMIP staff are there to help. As the University's agent, UMIP can identify, evaluate and protect IP that you create, advise on its potential for commercialisation and pursue the most appropriate route to put your invention or idea into practice. UMIP also manages the University's Proof of Principle (PoP) fund, which helps with the early stages of proving the IP and provides access to the UMIP Premier Fund, which provides investment funds to spin-out companies and occasionally to licensing projects. The contact details for some key UMIP representatives are on the contact sheet enclosed with this Guide. You can also find further information and resources on UMIP's website at 'www.umip.com' and in the 'Guide to UMIP.' Disclosure Under the IP Policy, all employees have to disclose any potentially commercialisable IP to UMIP (this does not include Teaching Materials). UMIP will assist you in completing a Disclosure Information Form which is set out in Part 1 of Appendix 1 of the IP Policy. If you are not sure if the IP is commercialisable, then just assume that it is and make a disclosure. The Disclosure Information Form is very short. A more detailed form (known as an 'Invention Record' and which