June 18, 2008
On May 1, 2007, the newly created position of Executive Vice President,
Business Operations assumed responsibility for implementation of the Policy
on Accepting Equity When Licensing University Technology, with the elimination
of the Senior Vice President, Business & Finance position within the
organizational structure of the Office of the President.
The Policy has been updated to reflect this reorganization.
February 16, 1996
MEMBERS, PRESIDENT'S CABINET
The enclosed Policy on Accepting Equity When Licensing University Technology is effective immediately.
An active technology licensing program is increasingly important in bringing research results to the marketplace for the benefit of the general public. Under certain circumstances, licensing involves the need to accept equity in the licensee in order for the University to realize the full potential of the technology. Accordingly, the enclosed Policy permits the acceptance of equity in a company as partial consideration for receiving a license. The principles set forth in the Policy establish parameters for entering into such arrangements.
This Policy supersedes Guideline 13, "Organizational Arrangements," of the Guidelines on University-Industry Relations, issued on May 17, 1989 by President Gardner, to the extent Guideline 13 is applicable to the acceptance of equity when licensing technology.
In the near future, guidelines and procedures to implement this Policy will be issued by the Senior Vice President--Business and Finance.
Richard C. Atkinson