OSICP - Responsibilities

University Responsibilities

• Ensure that the Dean and relevant Department Heads are aware of the faculty start-up enterprise;
• Conduct a diligent examination of the sources of funding and applicable research agreements to ensure they are compatible with each other and that the University's interest in the intellectual property is protected;
• Help determine whether granting rights to the start-up is the "best mode" for commercialization, as opposed to a licensing agreement with a third-party commercial sponsor;
• Help identify outside professional advisors and other resources to aid the faculty member in structuring, organizing and managing the start-up company and obtaining capital financing;
• Define and negotiate the technology license with the start-up company; and
• Manage all intellectual property (patents, copyrights, etc.) and research contracts and grants, as appropriate.

Faculty Responsibilities

• Faculty members must comply with all University policies, including employment, intellectual property and conflict of interest policies;
• Faculty members involved with a start-up company must fully disclose their activities and ownership to any trainees, fellows or students working on their research. Trainees, fellows and students should not be assigned to research projects that will lead to a direct financial benefit for the faculty member;
• All potential faculty conflicts of interest must be disclosed
• It is always up to the dean and/or department head to establish guidelines for time spent by faculty on outside activities. In general, a significant conflict of commitment will be created if the faculty member's responsibilities for the start-up company exceed more than one day per week.