Licensing Income Distribution Procedure
This Licensing Income Distribution Procedure details the distribution of the ULRF portion of Licensing Income under Section 8a of the Intellectual Property Policy. Of the royalties and other income arising from the licensing of Intellectual Property, the University of Louisville Research Foundation (ULRF) may deduct Intellectual Property protection and licensing expenses incurred for that Intellectual Property (Total Net Proceeds). Total Net Proceeds will be distributed as follows:
- Of the first $25K of Total Net Proceeds, 50% goes to the Creators and 50% for ULRF to be distributed as outlined below.
- Of Total Net Proceeds above $25K, a 5% overhead fee is applied and then 50% of the remainder goes to the Creators and the other 50% to ULRF to be distributed as outlined below. The 5% overhead fee will be utilized in the Office of Technology Transfer supporting patent prosecution and marketing efforts.
- Of the ULRF portion of Total Net Proceeds, which will be used in support of research, education and commercialization, the following sharing formula will be applied:
- 15% to the Creators’ Departments or Divisions (whichever unit pays the Creator’s salary at the time the Research Disclosure is submitted (or pro rata if the salary is split).
- 15% to the Creators’ Schools/Units (or pro rata if the appointment is split)
- If applicable, 15% to the Creators’ Centers (if not applicable, this will be equally split between the Department/Division and the School/Unit) (If the Creator is in a Center and not paid by a Department/Division, then 30% will go to the Center).
- 55% to the EVPRI Innovation Fund (to be used for translational research grants, seed and bridge grants for faculty as well as research infrastructure).
- For Creators (including students), who are not paid a salary, stipend, or the like by the University and its affiliates, their contribution to the Intellectual Property shall not factor into the distribution of the ULRF portion of Total Net Proceeds.