Babcock University Develops Policy on Intellectual Property

intellectual Property

Inventors can now smile vigorously as Babcock University has developed an intellectual property policy that gives a great deal of rights to inventors.

In the policy, Babcock states that the university would promote commercialization of intellectual property generated in the University as well as provide necessary linkage of researchers with sponsors and/or external partners among other obligations.

The University also states that it would University would provide financial and moral support that enhances effective administration of intellectual property (IP), while taking steps legally to protect university generated intellectual property against unauthorized use of IP for the benefit of the institution and creator of the IP.

Babcock however reserves the rights over any person hired or commissioned for that purpose to own the intellectual property rights of any collaborative research enacted between the university and other organizations.

The Director, Research, Innovation and International Cooperation, Professor Grace Tayo while speaking at the just concluded 2017 colloquium stated that where there is no written agreement between Babcock University and a grantor or funding agency or where the agreement fails to reckon the ownership of intellectual property rights, the University shall be accorded the rights of such research result.

Tayo stated that income gotten from the commercialization shall be fully consummated by the University as the expenses such as legal protection, exploitation of the patent has been paid off. Then the net income shall be shared as follows:

30% – Inventor/Author

35% – Babcock University

10% – The school of the Inventor

10% – RIIC use in research work

15% – Department of the Author/Inventor

She concluded by saying this policy will help foster innovation and management and utilization for the inventors, university and society.

Print Friendly, PDF & Email
FILE A TRADEMARK
About Nathaniel Adebayo 58 Articles
Nathaniel is a News Reporting Intern at Nigerian Law Intellectual Property Watch (NLIPW). He has a passion for writing, capacity building and social media marketing. He is a graduate of Federal University of Technology, Minna, where he graduated with BTECHAGRIC. He is a member of Soil Science Society of Nigeria (SSSN) and the National Union of Campus Journalist (NUCJ). Nathaniel has served as Editor-in-Chief for a number of magazines and as a contributor to various online repositories. Email: anathaniel@nlipw.com

Be the first to comment

Leave a Reply

Your email address will not be published.