An email from Vice President for Research Frank Macrina, PhD:
The newly revised and updated VCU Intellectual Property Policy is posted for review and comment. The policy, which was posted for comments for only a few days in February, has been revised to clarify the many questions we received during that initial posting. All substantial changes to the policy have been highlighted in yellow for ease of review. Format only changes have not been highlighted.
Please click on the link below to review and provide comments. The policy will be posted for comments for 30 days in accordance with the VCU’s Creating and Maintaining Policies and Procedures Policy. The major updates are as follows:
Changes in the U.S. patent law and a recent U.S. Supreme Court case have necessitated that universities adjust the language in their intellectual property policies from an “agreement to assign” to an “automatic assignment” of intellectual property to the universities. The proposed change will provide better assurance to our research sponsors (Government, not-for-profit and industry) that VCU can meet its contractual obligations concerning intellectual property rights.
The second proposed change is to ensure that VCU retains ownership of products developed as an “assigned duty” and also retains short-term license rights to certain intellectual property upon an individual’s departure.
Lastly, a procedural statement has been added to ensure that VCU Tech Transfer is the sole entity responsible for commercialization of VCU intellectual property and to prevent certain forms of conflict of interest and commitment on the part of VCU members regarding commercialization activities.