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36 >>> To avoid any unnecessary administration, the University will not make any individual payment to you until the amount due reaches £500. To meet its obligations in relation to tax and NIC, any payments made by the University as part of these revenue sharing arrangements will be subject to deduction of income tax and employer's and employee's NIC at source. If tax might be payable in any other circumstances then, before the University makes any payment to you, it will ask for an indemnity from you that you will reimburse any tax that the University has to pay on your behalf. The University tries to keep in touch with individuals who might benefit from the revenue sharing arrangements. It does however happen that the University wishes to make a payment to someone who has left the University, but is unable to trace them. In such cases, the payments will be invested in a deposit account until they are claimed. If they are not claimed within 5 years of the date when the revenue is received by the University, then they will be forfeited. The University will distribute such unclaimed revenue between any other inventors/creators of the relevant IP. Teaching and research activities at the University can generate some very valuable IP which has great potential for commercialisation. This is so particularly with the introduction of online teaching tools and electronic theses, which can easily be put into wider practical use. Such materials can bring significant benefits to the University. So it actively encourages the commercialisation of Teaching Materials and research outputs. Teaching Materials - There are some situations in which the University cannot allow the creator to share in the revenue from Teaching Materials. This will generally be the case where: > specific time has been made available during paid employment for the Teaching Materials to be created, or > the person has been specifically employed to create Teaching Materials. > the content of the Teaching Materials is relevant to a part of the University's strategy, such as a particular teaching programme. However, even in these circumstances, the University will allow revenue sharing in exceptional cases where it recognises that the Teaching Materials are very important breakthrough materials. REVENUE-SHARING