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.‌

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.

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.