Issue link: https://htpgraphics.uberflip.com/i/729690
Indemnity A promise to compensate the other contracting party on a pound-for-pound basis for loss or damage that it incurs, even if those losses are remote or could have been mitigated against. Indemnities will often apply to losses caused by a breach of a Warranty. An indemnity can give rise to substantial financial liability and it is therefore not the University's policy to give indemnities. Licence (in the context of a licence of IP to the University by an employee or student) In some situations, the IP Policy requires employees or students to grant a licence to the University to use IP which they have created. This means that the IP still belongs to the employee or student who created it, but the University is permitted to use it for the purposes specified in the licence. Licensing (in the context of commercialisation) A form of Commercialisation where the owner of the IP remains the same, but the owner gives another party the right to use the IP for a particular purpose, usually in exchange for payment of a licence fee or a series of regular payments known as 'Royalties'. Materials transfer agreement (MTA) An agreement which governs the transfer of Tangible Research Materials to a third party (usually an academic or research institution, or a commercial entity). MTAs are used frequently for biological materials. The recipient of the materials can only use them in accordance with the terms of the MTA (which may not include commercial purposes). The transfer of materials under an MTA is generally free of charge, but the recipient may sometimes be asked to pay a fee. Moral rights Personal rights which belong to the creator of a copyright work; > the right to be identified as the author of the work; and > the right to object to the work being altered in a derogatory way > the right not be falsely attributed as the author of a work. The first right only applies if it is specifically asserted by the author. These rights cannot be assigned to anyone else, but they can be waived by the author. Moral rights do not arise in relation to copyright works created in the course of employment. GLOSSARY OF KEY TERMS 40