How Much to Get Paid for Intellectual Propertyprior Art Assessment
The Intellectual Property Procedure is the roadmap the Office of Engineering science Transfer uses to help commercialize your invention, starting from your formulation to generating acquirement for you and the University.
General Information
An Invention Disclosure submitted to the West Virginia University (WVU) Office of Applied science Transfer (OTT) serves as a record of a potentially patentable invention and is a notice of such to WVU. A submitted Invention Disclosure is not a patent application and is non filed with the U.S. Patent and Trademark Office (USPTO). A submitted Invention Disclosure does not provide any intellectual holding protection other than possibly an invention date. The following steps depict the steps the WVU OTT performs when processing an Invention Disclosure submission.
Timeline graphic text version.
Step 1 – Conception
To be considered eligible for a patent, an invention must exist conceived and reduced to practice. Reduction to practise tin can be an actual reduction to do, meaning the invention was carried out and found to work for its intended purpose. Alternatively, reduction to exercise can be a constructive reduction to practice, significant it has been sufficiently described in writing for someone with ordinary skill in the art to make or exercise the invention. Properly completing the invention disclosure form in Step 2 demonstrates a constructive reduction to do.
Pace 2 – Disclosure Review
Inventors must complete all sections of the WVU OTT invention disclosure and submit a difficult copy of it to the OTT with wet-ink signatures where appropriate. The invention disclosure form can be downloaded here. The inventors may send an electronic draft of the Invention Disclosure for the OTT to review prior to formal submission. The OTT will promptly review the invention disclosure to ensure it is properly filled out or communicate its incompleteness to the inventor with specific guidance on how to consummate it.
Step three – Commercialization Assessment / Prior Art Search
The WVU OTT confidentially submits the Invention Disclosure to a third-political party firm to perform a commercial assessment. The cess is a three to v-page document that typically summarizes the following aspects of the engineering:
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Commercial Awarding
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Technical Clarification
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Competitive Advantage
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Market, Trends, and Competitive Landscape
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Recommendation on Side by side Steps
Once the OTT receives the commercialization assessment dorsum from the third-party firm, it is shared with the inventors for their feedback to ensure the technology was properly interpreted and evaluated. The commercialization assessment is important because it provides an initial indication on the acquirement generating potential of the technology.
The OTT also oversees a preliminary prior art search of the engineering science. A preliminary prior art search is important because the technology must exhibit at least one element of novelty to exist considered patent eligible. The results of any prior art discovered that may prohibit or limit what can be claimed in a potential patent application on the engineering is shared with the inventors for their feedback. This step can take up to 30 days to consummate.
Pace four – Applied science Committee Assessment
The WVU Applied science Transfer Cess Committee (TTAC) reviews the invention disclosure, the commercialization assessment, and the prior art search results to determine the adjacent step. TTAC typically meets monthly, and then this step can take upward to thirty days to complete based on the timing of the previously completed steps. I of iii post-obit outcomes occur from this cess:
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WVU Files a Patent Awarding on the Engineering
The OTT will commission a third-party legal firm to confidentially typhoon a patent application on the applied science.
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WVU Offers the Technology Back to the Inventors
The OTT may offer the rights of the technology to the inventors if they wish to pursue their own commercialization interests. This typically occurs if the engineering science is determined to have low commercialization potential. If the inventors wish to own the rights to the technology, the inventors must sign a Technology Release Agreement.
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WVU Retains the Applied science for Further Development
WVU may retain rights to the technology with the intent for information technology be further adult and so that TTAC can reassess the technology for IP protection at a late date. This typically occurs if the technology is determined to be underdeveloped just have a high commercialization potential.
Step 5 – IP Filing
For technologies that do not have an immediate commercial opportunity, WVU will typically elect to file a U.Due south. conditional awarding. For technologies that accept an firsthand commercial opportunity, WVU will typically elect to file a U.S. nonprovisional and/or an international patent application depending on the invention's potential in foreign markets. This step tin take up to thirty days to complete.
Step half dozen – Marketing
The OTT will commission a third-political party business firm to market the engineering science. Marketing begins by drafting a one-page, non-confidential disclosure (NCD). One time the draft NCD is canonical by the inventors to ensure the engineering science is properly represented and IP protection has been procured, the NCD is shared with a pre-approved listing of external partners for potential revenue generating potential. If marketing has been unsuccessful for three months, the NCD may be revised and a new listing of external partners will exist solicited for an boosted three months.
Pace 7 – Revenue Generation
Revenue generation from patented IP can take many forms. Revenue share is typically forty-pct to the inventors, forty-percentage to the academy, ten-percent to the higher, and ten-percent to the section of money made after IP filing costs have been recouped. However, the near mutual route is by licensing the technology to an industry chapter who is well-equipped to profit from the invention in the marketplace. Other paths for revenue generation include, but are not express to, edifice a business concern startup around the technology, raising venture upper-case letter, partnering with industry for commercial development, or procuring boosted enquiry funding.
IP process graphic text version.
Source: https://techtransfer.research.wvu.edu/inventor-resources/ip-process
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