Common use of Timely Disclosure Clause in Contracts

Timely Disclosure. Academic Personnel who have developed intellectual property which they intend to commercialize must inform the Associate Xxxxxxx, Research in advance, in writing, and in a timely way of their intentions. Such disclosure must include the nature of the intellectual property, the names of all co-creators, the source of funding for the research project out of which the intellectual property emerged, and any other relevant information. At the time of disclosure, the university will inform the creator(s) that they may commercialize the intellectual property themselves, or may offer it to the university to commercialize, and will provide sources of information about those options.