Issue link: https://htpgraphics.uberflip.com/i/729690
GLOSSARY OF KEY TERMS 42 Spin-out company A new start-up company that is set up specifically for the purpose of commercialising valuable University-owned IP that is transferred into it. In return for transferring IP, the University will receive shares in the spin-out company. Sub-contracting arrangement An arrangement where a contracting party enters into a separate agreement with a third party (the sub-contractor) whereby the sub-contractor agrees to perform some or all of that party's obligations under the main contract on its behalf. The original contracting party remains liable for performance under the contract and will be responsible if the sub-contractor defaults. Tangible Research Materials Materials and equipment that are created or used in the course of research. These include biological materials, engineering drawings, computer software, integrated circuit chips, computer databases, prototype devices, circuit diagrams, and all associated research data. Teaching Materials Materials which are primarily intended to be used or accessed by students for the purposes of any course of study they are following. These materials can be in any format or medium, whether hard copy or electronic. University Materials Materials in any medium which are produced for the University's administrative purposes, such as student and staff recruitment, promotion and marketing, internal meetings or any other University purpose. They also include any item created by an employee of the University whose job description specifically includes the creation of printed or electronic materials. University Resources Any funds, facilities, equipment, consumables, utilities or other resources of the University or its subsidiaries (including any employee during their paid working hours) unless such resources have been reimbursed in full or paid for separately. Use of the University's name in the promotion of work is also a University resource. Warranty An assurance or promise made in a contract that, for example, a piece of work does not infringe any third party IP or that the University owns a particular patent. If a warranty turns out to be untrue or inaccurate, the party who gave it could be liable for damages for a breach of warranty. A warranty is often accompanied by an indemnity.