Inventors will receive a share of royalty, equity income or other revenue received by the IDEA Center as a result of the commercialization of their invention. The inventor’s share of income will be based on a percentage of such income or revenue remaining after:
- The reimbursement of the University for all direct costs of patent prosecution or maintenance,
- Payments to other institutions required by University agreement, including, but not limited to, inter-institutional agreements for the management of jointly owned patents
The inventor’s share will be 50% of the first $100,000 of net revenue and 25% of any additional net revenue received by the IDEA Center thereafter. This share of royalties is divided equally among all inventors, unless all inventors agree in writing to another distribution formula of their collective choice.