FREQUENTLY ASKED QUESTIONS For Inventors

1 FREQUENTLY ASKED QUESTIONS For Inventors Virginia Tech Intellectual Properties | Page 1 These FAQs are based on the Inventor s Guide to technology transfer published by University of Michigan Tech transfer with adaptations for Virginia Tech and Virginia Tech Intellectual Properties. We appreciate permission from University of Michigan Tech transfer for our use and adaptation of this material. FREQUENTLY ASKED QUESTIONS Quick Links Research Invention Disclosure Review and Assessment Protection Marketing Licensing Commercialization Revenue technology transfer PROCESS What is intellectual property (IP)? Intellectual property is an invention and/or material that may be protected under the patent, trademark or copyright laws.

2 What are the steps to commercializing Virginia Tech intellectual property? RESEARCH: Observations and experiments during research activities often lead to discoveries and inventions. An invention is any useful process, machine, composition of matter, or any new or useful improvement of the same. Often, multiple researchers may have contributed to the invention. INVENTION DISCLOSURE: An invention disclosure is the written notice of invention that begins the formal technology transfer process. An invention disclosure remains a confidential document and should fully document your invention so that the options for commercialization can be evaluated and pursued. REVIEW and ASSESSMENT: Your invention disclosure will be submitted and presented to VTIP for review.

3 A VTIP licensing associate will be assigned to your disclosure and will work with you through the commercialization process. PROTECTION: Patent protection, a common legal protection method, begins with the filing of a patent application with the Patent and Trademark Office and, when appropriate, foreign patent offices. Once a patent application has been filed, it will typically require several years and tens of thousands of dollars to obtain issued and foreign patents. Other protection methods include copyrights, trademarks and trade secrets. Virginia Tech Intellectual Properties | Page 2 MARKETING: With your active involvement, your VTIP licensing associate will identify candidate companies that have the expertise, resources and business networks to bring the technology to market.

4 This may involve licensing the technology to an existing company or forming a start-up company. LICENSING: A license agreement is a contract in which rights to a technology are licensed to a third party, without relinquishing ownership, for financial and other benefits. A license agreement is used with both a new start-up business or with an established company. COMMERCIALIZATION: The licensee continues the advancement of technology and makes other business investments to develop the product or service. This step may entail further development, regulatory approvals, sales and marketing support, training, and other activities. REVENUE: Revenues received from licenses are distributed to departments, Inventors and to VTIP to fund unreimbursed patent and licensing costs and to encourage further participation in the technology transfer process.

5 Virginia Tech s Policy on Intellectual Property, Policy No. 13000 governs distribution of revenue received by VTIP from licenses. How long does the tech transfer process take? The process of protecting technology and finding the right licensing partner typically takes years to complete. Sometimes under the right circumstances, especially when there is an immediate interest in an invention disclosure the process of protection and licensing can be accomplished in a matter of months or even weeks. How can I help this process? Contact VTIP when you believe you have created or discovered something unique with potential commercial or research value. Complete and submit the confidential VT Intellectual Property (IP) Disclosure form before publicly disclosing your technology or submitting a manuscript for review and publication.

6 Contact VTIP before holding any discussions with people outside of the Virginia Tech community. Respond to VTIP and outside patent counsel requests. Keep VTIP informed of upcoming publications or interactions with companies related to your intellectual property. RESEARCH Back to top What rights do you have to IP and what right does the university have to your creation? General guidance on ownership under the university's IP policy is provided by the Office of the Vice President for Research in a document, "Intellectual Property: Who Owns It?" Will I be able to publish the results of my research and still protect the commercial value of my intellectual property? Yes, but since patent rights are affected by these activities, it is best to submit an invention disclosure well before communicating or disclosing your invention to people outside Virginia Tech.

7 May I use material or intellectual property from others in my research? Yes, but it is important to document carefully the date and conditions of use so that VTIP can determine if this Virginia Tech Intellectual Properties | Page 3 use may influence the ownership and license rights of your subsequent research results. A Material transfer Agreement must be completed for any materials that are transferred into or out of Virginia Tech. The Office of Sponsored Programs handles MTA s on behalf of Virginia Tech. Will I be able to share materials, research tools or intellectual property with others to further their research? Yes. However, it is important to document items that are to be shared with others and the conditions of use.

8 What rights does a research sponsor have to any discoveries associated with my research? The Sponsored Research Agreement should specify the intellectual property rights of the sponsor. Virginia Tech generally retains ownership of the patent rights and other intellectual property resulting from sponsored research. However, the sponsor may have rights to obtain a license to the defined and expected outcomes of the research. What are Virginia Tech s practices with respect to working with industry sponsors? General information on collaborative research with industry and an overview of Virginia Tech's policies and procedures for performing research for industry is provided in an OVPR FREQUENTLY ASKED QUESTIONS About Working with Business and Industry page.

9 INVENTION DISCLOSURE Back to top Why should I submit an Invention Disclosure Form? When you disclose your invention, it starts a process that could lead to commercialization of your technology . If government funds were used for your research, you are required to file a prompt disclosure, which will be reported to the sponsoring agency. Similar requirements may exist for other sponsored projects. How do I know if my discovery is an invention? You are encouraged to submit an invention disclosure for all inventions and developments that you feel may solve a significant problem and/or have significant value. If you are in doubt, contact VTIP to discuss the invention and strategies for commercialization.

10 When should I complete an invention disclosure? You should complete an invention disclosure whenever you feel you have discovered something unique with possible commercial value. This should be done well before presenting the discovery through publications, poster sessions, conferences, press releases, or other communication. Once publicly disclosed ( published or presented in some form), an invention may have restricted or minimal potential for patent protection outside of the United States. Differences exist between the and other countries on the impact of early publication on a potential patent. Be sure to inform VTIP of any imminent or prior presentation, lecture, poster, abstract, website description, research proposal, dissertation/master s thesis, publication, or other public presentation including the invention.