Issue link: https://htpgraphics.uberflip.com/i/123776
UNIVERSITY STUDENTS >>> Transferring your IP to the University does not mean that you lose out. If you do happen to create some IP which can be commercialised, any return which the University is able to make from that IP will be shared with you in the same way as the University shares returns with its employees (the details of how the University shares profits from IP are set out in 'Revenue-sharing' p32. Ultimately, the University's priority is to secure the sponsored studentship or research programme or project for you and there may not be any other (financial) returns on the IP. The University is a charitable institution, which means that it has a duty to protect its assets and resources and cannot just give them away for free. If you want to use the University's resources or facilities, otherwise than for your course work, then they have to be paid for, or the University has to get some other form of return. Therefore, if you create IP outside your course work using University resources (other than incidental use), then that IP must be transferred to the University. The use of University funds, equipment, consumables, employees or the University's name all count as use of University resources. 20 Case Study... Peter is studying English at the University. He could do with some extra cash to meet his beer bill. He has a great idea for a social networking site. Using the University's IT system and equipment, he sets up a website. Other students who become members on his website will get discount vouchers for certain evenings at some local bars. He has done a deal with the bars to sponsor his website and pay him based on their increased profits on the "voucher" evenings. Peter's business features in the Manchester Evening News. Peter has been very entrepreneurial, but he has used University resources to create the IP in the website and so it will belong to the University. He will need to speak with UMIP so that this can be resolved.