Common use of Commercialization by Independent Action Clause in Contracts

Commercialization by Independent Action. 16.6.1 If the creator elects to protect or exploit intellectual property without PARTEQ and if PARTEQ was a suitable vehicle for such exploitation, and if the creator receives any net proceeds of exploitation, the University shall, in lieu of costs, receive twenty-five percent (25%) of any net proceeds of exploitation exceeding five hundred thousand dollars ($500,000.00) for any piece of such intellectual property.‌ 16.6.2 All costs recovered under Article 16.6.1 by the University shall be paid to a fund at the University to be used exclusively for direct support of research by Bargaining Unit Members.‌ 16.6.3 The Association shall receive yearly accounts of the fund described in Article 16.6.2 and its disbursements.

Commercialization by Independent Action. 16.6.1 14.6.1 If the creator elects to protect or exploit intellectual property without PARTEQ and if PARTEQ was a suitable vehicle for such exploitation, and if the creator receives any net proceeds of exploitation, the University shall, in lieu of costs, receive twenty-five percent per cent (2525.0%) of any net proceeds of exploitation exceeding five hundred thousand dollars ($500,000.00) for any piece of such intellectual property.‌property. 16.6.2 14.6.2 All costs recovered under Article 16.6.1 14.6.1 by the University shall be paid to a fund at the University to be used exclusively for direct support of research by Bargaining Unit Members.‌Members. 16.6.3 14.6.3 The Association shall receive yearly accounts of the fund described in Article 16.6.2 14.6.2 and its disbursements.

Commercialization by Independent Action. 16.6.1 17.6.1 If the creator elects to protect or exploit intellectual property without PARTEQ and if PARTEQ was a suitable vehicle for such exploitation, and if the creator receives any net proceeds of exploitation, the University shall, in lieu of costs, receive twenty-five 25 percent (25%) of any net proceeds of exploitation exceeding five hundred thousand dollars ($500,000.00500,000) for any piece of such intellectual property.‌property. 16.6.2 17.6.2 All costs recovered under Article 16.6.1 17.6.1 by the University shall be paid to a fund at the University to be used exclusively for direct support of research by Bargaining Unit Members.‌Members. 16.6.3 17.6.3 The Association shall receive yearly accounts of the fund described in Article 16.6.2 17.6.2 and its disbursements.. Last Revised January 26, 2000

Commercialization by Independent Action. 16.6.1 17.6.1 If the creator elects to protect or exploit intellectual property without PARTEQ and if PARTEQ was a suitable vehicle for such exploitation, and if the creator receives any net proceeds of exploitation, the University shall, in lieu of costs, receive twenty-five 25 percent (25%) of any net proceeds of exploitation exceeding five hundred thousand dollars ($500,000.00) 500,000 for any piece of such intellectual property.‌property. 16.6.2 17.6.2 All costs recovered under Article 16.6.1 17.6.1 by the University shall be paid to a fund at the University to be used exclusively for direct support of research by Bargaining Unit Members.‌Members. 16.6.3 17.6.3 The Association shall receive yearly accounts of the fund described in Article 16.6.2 17.6.2 and its disbursements.