Scope
This procedure forms part of JIBC’s Intellectual Property Policy (the “Policy”) and should be followed and applied in relation to the Commercialization and revenue sharing of Intellectual Property resulting from Research under the Policy. Terms not otherwise defined in this procedure are as defined in the Policy.
Procedural Guiding Principles
The purpose of this procedure is to establish principles and processes related to the Commercialization and revenue sharing of Intellectual Property resulting from Research. It is intended to encourage equitable and mutually beneficial arrangements between the Institute and Creators of Intellectual Property resulting from Research to support Commercialization.
The ownership of Intellectual Property in general is handled in accordance with the section titled “Ownership of Intellectual Property” in the Policy.
Creators may voluntarily assign or transfer their ownership interest in Intellectual Property resulting from Research to JIBC to enable JIBC to assist with Commercialization, or for other purposes mutually agreed to by the Institute and the Creators. JIBC may accept such assignment or transfer and thereafter may transfer or license its ownership or interest to third parties.
If Commercialization of Intellectual Property resulting from Research is anticipated and there is more than one Creator, a written agreement among the Creators defining ownership interests and revenue sharing expectations should be concluded before negotiations related to Commercialization are commenced with third parties.
Creators may elect to pursue the Commercialization of their Intellectual Property resulting from Research without the assistance of JIBC. When this is done, JIBC will not share in the proceeds but may require recovery of its costs related to the Research that led to the creation of the Intellectual Property.
Creators are free to Commercialize Intellectual Property resulting from Research, without involving JIBC where no JIBC Resources were used in the development of the Intellectual Property. Creators may request JIBC’s assistance in Commercializing, or may decide not to Commercialize their Intellectual Property resulting from Research. Should a Creator wish to seek the assistance of JIBC in pursuing patents or other protection and subsequent Commercialization, JIBC and the Creator shall enter into an agreement to share proceeds among the parties.
Subject to any agreement to the contrary, JIBC has the right to a share of revenue earned from Commercialization of Intellectual Property resulting from Research developed using JIBC Resources. Revenue sharing will be determined on a case-by-case basis and evidenced in a written agreement.
For the purposes of determining the allocation of revenue, either JIBC or the Creator may require the other to provide an accounting of all revenues and funds received and expenses incurred with regard to Intellectual Property resulting from Research covered by this procedure.
JIBC and/or its designate shall be responsible for the reporting and the administration of the proceeds of Commercialization of Intellectual Property resulting from Research provided to Creators and other third parties, as applicable.
Disclosure of Commercialization of Research Intellectual Property
A Creator of Intellectual Property resulting from Research must disclose to their immediate supervisor in writing as soon as possible upon determining that Intellectual Property resulting from Research has potential for Commercialization.
Dispute Resolution
If a dispute arises among Creators regarding their relative contributions to the creation of Intellectual Property resulting from Research that cannot be settled by the individuals involved, the parties should seek advice from their Dean and/or administration equivalent.
Disputes between the Creator(s) and JIBC regarding the provisions of the Policy which cannot be resolved through informal means shall be remitted to binding arbitration pursuant to the British Columbia Commercial Arbitration Act where the dispute relates to the application thereof.