• Section 1 - Purpose of Policy
• Section 2 - Application and Scope
• Section 3 - Distribution of Nett Commercialisation Revenues
• Section 4 - Equity in Companies
• Section 5 - Deed of Assignment
• Section 6 - Commercialisation Revenue Committee
• Section 7 - Communication
• Section 8 - Roles and Responsibilities
• Section 9 - Definitions

Section 1 - Purpose of Policy

(1) This policy applies to all Staff Members and Students (under-graduate and post-graduate) of the University. It may also apply to other persons by agreement, such as UOW fellows and other associates.

(2) This policy sets out the approach taken by the University in relation to the sharing of revenue generated from Commercialisation of Intellectual Property (IP) created as the result of research activity.

Section 2 - Application and Scope

(3) The University provides an environment that:

1. encourages researchers to develop innovative ideas; and
2. supports commercialisation of these ideas.

(4) The University wishes to reward creators who develop IP created as the result of research activity with commercial value by allowing them to share in the returns from commercialisation. 

(5) This policy is intended to provide a personal incentive and reward for UOW staff and students (where the students have assigned their IP to UOW) who have developed IP created as the result of research activity with commercial value.

(6) It is also intended that this policy will provide a clear framework for considering how nett commercialisation revenue should be distributed.  This policy does not apply to students who have not assigned their IP to UOW.

Section 3 - Distribution of Nett Commercialisation Revenues

(7) UOW will distribute nett revenues to creators:

1. 50% to be shared by all of the creators;
2. 50% to UOW, to compensate it for the use of its facilities, resources and commercialisation framework.

Section 4 - Equity in Companies

(8) Equity in a start up company may be considered as an alternative to the distribution of nett commercialisation revenues on a case by case basis, taking into consideration the complexity and inherent risks including actual, potential or perceived conflicts of interest of any arrangements. Creators will need to consider the taxation impact, if any, upon them of holding equity. Similarly, UOW will need to consider the fringe benefits tax impact, if any, upon it.

(9) In cases where creators may personally hold shares, the number of shares to be held between the creators will be determined in accordance with the same principles that operate in relation to the distribution of Commercialisation Revenues, that is:

1. consider the “gross” number of shares available in accordance with the terms of the particular transaction;
2. consider the Commercialisation Expenses that would have been deducted from revenue to arrive at a “nett”;
3. calculate the creators’ entitlement to this number of shares, being 50%;
4. convert this to a number of shares; and
5. arrive at the “nett” number of shares to be available to Creators.

(10) Whether creators may on a particular occasion hold shares personally, will be determined by the Deputy Vice-Chancellor (Research and Sustainable Futures). Where creators may personally hold shares, they will be required to forego any other Creators’ entitlements.

Section 5 - Deed of Assignment

(11) IP Deeds issued by UOW to facilitate the assignment of IP from Creators to UOW should include a requirement to share commercialisation revenue (if any) in accordance with the requirements of the IP Intellectual Property Policy.

Section 6 - Commercialisation Revenue Committee

(12) There will be a Commercialisation Revenue Committee constituted on a case by case as required basis, for example where a position on the Commercialisation Revenue distribution cannot be mutually agreed or the terms of an existing distribution agreement cannot be met. The Committee will be composed of:

1. the Deputy Vice-Chancellor (Research and Sustainable Futures) or their representative;
2. one other member of UOW staff selected by the Deputy Vice-Chancellor (Research and Sustainable Futures);
3. one other member of UOW staff from a Department/School unconnected with any of the Creators and who is nominated by consensus by the creators.

(13) The Committee will have regard to:

1. the views of the creators;
2. principles of inventorship;
3. principles of authorship; and
4. the advice of any expert, such as a patent attorney, from whom UOW obtains advice.

(14) The Committee will make a recommendation to the authorised delegate(s) in regard to:

1. who is a creator; and
2. in what proportions Creators will share in commercialisation Revenues.

(15) UOW’s authorised delegate(s) will consider the recommendation made by the Committee and the delegate’(s) decision is final.

Section 7 - Communication

(16) It is the responsibility of the Innovation and Commercial Research Unit to develop and review the communication strategy for this Policy.

Section 8 - Roles and Responsibilities

(17) It is the responsibility of the Innovation and Commercial Research Unit to ensure that the requirements of this Policy are followed when determining commercialisation revenue sharing.

(18) It is the responsibility of Creators to cooperatively participate in the process of determining inventorship or authorship for the purposes of implementing this Policy.

Section 9 - Definitions

(19) References to the singular include the plural and references to the plural include the singular.