Common use of Reporting Procedures Clause in Contracts

Reporting Procedures. The employee shall report directly to USF Division of Patents and Licensing the nature of the discovery or new invention, together with an outline of the project and the conditions under which it was done. If the University wishes to assert its interest in the patent, the USF Division of Patents and Licensing shall inform the employee within a maximum of one hundred and thirty-five (135) days. It is understood that every effort shall be made at appropriate administrative levels to expedite the decision-making process to minimize the time involved. The division of proceeds between the University and the employee generated by the licensing of patent rights or trade secrets shall be negotiated and reflected in a written contract between the University and the employee. All such agreements shall comport with and satisfy any preexisting commitments to outside sponsoring agencies, but the employee shall not commit any act which would tend to defeat the University’s interest in the matter, and the University shall take any necessary steps to protect such interest.

Reporting Procedures. The employee shall report directly to USF Division of Patents and Licensing the nature of the discovery or new invention, together with an outline of the project and the conditions under which it was done. If the University wishes to assert its interest in the patent, the USF Division of Patents and Licensing shall inform the employee within a maximum of one hundred and thirty-thirty- five (135) days. It is understood that every effort shall be made at appropriate administrative levels to expedite the decision-making process to minimize the time involved. The division of proceeds between the University and the employee generated by the licensing of patent rights or trade secrets shall be negotiated and reflected in a written contract between the University and the employee. All such agreements shall comport with and satisfy any preexisting commitments to outside sponsoring agencies, but the employee shall not commit any act which would tend to defeat the University’s interest in the matter, and the University shall take any necessary steps to protect such interest.