Georgetown University Medical Center

From Patent to License to Income

Section: For Inventors

For a complete description of Georgetown University's policy for intellectual property, click here.

Patenting Policy

When the Office receives an Invention Disclosure Form for a new Invention, the Invention is evaluated for ?protectibility? and commercial potential.  In many cases, the Office will advertise the Invention to corporations and engage the industrial licensing executives in confidential disclosures of the Invention.  If Georgetown elects ownership in the Invention, the Office will engage a patent attorney to draft a provisional patent application.  NOTE: To protect foreign patent rights, a patent application must be filed prior to public disclosure.  There is a grace period of one year from public disclosure for US patent protection.

Licensing

License agreements are the means by which the intellectual property is used to generate revenue.  Revenue can be in the form of up-front payments, sublicense fees, royalties, and milestone payments.  The Office manages the negotiation, drafting, and compliance of these licensing agreements.  It is of importance to note that the Inventor is the best advocate for the Invention, and should inform the Office of interested parties or champions in industry.

Income Distribution

Fifty percent of the net receipts shall be distributed to the Inventor(s).  Net receipts are defined as the gross receipts less expenses.  This amount is to be paid to the Inventors regardless of the place of employment of the Inventor.  At the option of the Inventor, the Inventor?s share may be returned to the laboratory rather than the Inventor personally.