Distribution of the net benefits from commercialisation of Research and Innovation intellectual property procedure

Procedure

Intent and objectives

1. The steps staff and students (as applicable) should follow to prepare a proposal for distribution of the net benefits the University might receive from successful commercialisation of its R and I intellectual property.

2. The process the University will follow to evaluate proposals and approve the distribution of these benefits.

Scope

The procedure relates to all R and I intellectual property in which RMIT University has an interest, including, but not limited to, R and I intellectual property created by University staff and students within and external to the University

This procedure describes how the University proposes to distribute the net benefits obtained through successful commercialisation of its R and I intellectual property.

This procedure complements, but is separate to, the University’s procedures for commercialisation of R and I intellectual property. The agreed distribution of benefits to staff and students is often desirable at the outset and may be prepared at the same time as a commercialisation proposal is developed. In many cases the actual benefits from commercialisation may be substantially different to those anticipated initially. This procedure thus enables proposals for the distribution of benefits to reflect the real performance of commercialisation initiatives.

This procedure can also be applied in relation to the distribution of benefits the University receives through:

  • Commercialisation of its R and I intellectual property in partnership with, or by, other organisations
  • Commercialisation initiatives by other organisations with which it collaborates, e.g. Cooperative Research Centres.

Exclusions

This procedure applies to all University staff and students who participate in initiatives to create and / or commercialise R and I intellectual property.

Education and Training intellectual property is covered by other procedures under this policy.

Procedure steps and actions

Procedure

Responsibility

Identify potential commercialisation opportunity

Research Team

RMIT Business Development Manager

Confirm ownership of R and I intellectual property

Research Team

Estimate/determine availability of funds for repayment of RMIT’s commercialisation costs

Benefits can only be paid when RMIT receives net income from the commercialisation of the R and I intellectual property asset

The University may also seek a return on the pre-existing or background R and I intellectual property or intellectual capital it has contributed to the activities that led to the commercialisation initiative from which net benefits are expected.

Research Team

RMIT Business Development Manager

Financial Services

Estimate / determine availability of resources to create a net benefit

Benefits can only be allocated when RMIT receives a net return, e.g. income from the commercialisation of R and I intellectual property or creation of equity in a spin-off company.

Research Team

Financial Service

Identify potential recipients of benefits / determine who may receive a benefit

Benefits will only be allocated to people who make a significant direct contribution to the creation or commercialisation of R and I intellectual property.

Research Team

Financial Services

Research and Innovation

Determine form of benefits to be distributed

Research Team

Confirm estimates / availability of resources for creation of the benefits described in the benefits distribution proposal

Financial Services

Submit benefits distribution proposal to the Intellectual Property Committee

Research Team

Recommendation to Vice-Chancellor regarding proposal for distribution of net benefits

Any payment or allocation of benefits can only be made once all relevant approvals have been obtained and the resources necessary for the benefit are available.

Intellectual Property Committee, in accordance with RMIT Regulation 7.1.1.

Advise proposed beneficiaries

Within one week of decision

Intellectual Property Committee

Record the details of the benefits distribution proposal and the decision of the R and I Intellectual Property Committee in the University’s Register of R and I Intellectual Property

Within one week of decision

Intellectual Property Committee

Distribute benefits as approved

[Next: Supporting documents and information]