Len, the problem that I deal with (and it's the only one I'm aware of) is
burried in the committee report:
If an institution specifies a "price" or royalty rate for intellectual
property BEFORE the IP is "ready for sale", the insititution looses the
right to issue tax free bonds.

This was a legislative reaction to some of the big deals where some
insititutions committed that all future inventions from some segment of the
institution went to a big ($M, $$M) sponsor at a set royalty rate --
remember that in the early 80's a number of big sponsors, some being
foreign, made such deals.

I overcome the problem by NEVER putting a ROYALTY RATE into a sponsored
program.  I will agree to "reasonable", "usual in the industry", or even a
(abnormally high) ceiling on rate, adding that final rate will be
negotriated aftrer both we and sponsor have had time to evaluate the
specific inventions.

Chuck

At 12:06 PM 1/12/99 -0500, Paplauskas,Leonard wrote:
>Can anyone point me to a reference on the impact of this legislation on
>universities?
>
>Thanks,
>
>Leonard P. Paplauskas
>Assistant Vice Chancellor for Research
>University of Connecticut Health Center
>Farmington, CT  06030-5355
>860-679-3173 (voice)
>860-679-2670 (fax)
>xxxxxx@adp.uchc.edu
>
>
>=============================================================================
>
Herbert B. Chermside, CRA
Director, Sponsored Programs Administration
Virginia Comonwealth University
PO BOX 980568
Richmond, VA  23298-0568
Express Delivery Only:
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