Agenda Item Name:
Title
Approval of the Amended and Restated Interinstitutional Agreement between Alachua County and University of Florida Research Foundation and Acceptance of Patent Assignment
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Presenter:
Sylvia Torres, County Attorney
Description:
Interinstitutional Agreement with University of Florida Foundation and Patent Assignment
Recommended Action:
Recommended Action
Approve Amended and Restated Interinstitutional Agreement between Alachua County and University of Florida Research Foundation and Accept Patent Assignment.
Authorize Chair to sign.
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Prior Board Motions:
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Fiscal Consideration:
Fiscal Consideration
NA
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Strategic Guide:
Choose an item.
Background:
Alachua County and the University of Florida Research Foundation, Inc. (UFRF), own a joint, undivided interest in patent rights related to leachate and reverse osmosis. UFRF will assume the lead and exclusive responsibility for administering and licensing the patent rights. Costs and charges for the prosecution of the patent rights, the administration of the licensing is handled in the agreement.
Alachua County will retain the reasonable review or approval of all licenses. 10% of income is retained by UFRF for administration of the patent and patent licensing. Net revenue will be shared 60% UFRF and 40% County.
Additionally, UFRF has agreed to assign a portion of their interest in the patent and the pending patent application to the County, so that UFRF and the County have a joint and shared (undivided) interest in UFRF’s interest. This sharing of interest is common among patent holders and solidifies the County’s ability to continue to use and control the technology.