Introduction
Many colleges and universities maintain policies governing the ownership and management of intellectual property (IP), including copyrights, patents, and trademarks. If you haven’t reviewed your institution’s IP policy recently, now may be a good time. The following checklist outlines key considerations to evaluate:

Policy Currency and Scope

1. Is your IP policy current and reflective of actual practices?
   Ensure the policy aligns with how decisions are made in practice. If discrepancies exist between the written policy and actual operations, these should be addressed.

2. Does the policy comprehensively address copyrights, trademarks, and patents?

3. Are all members of your academic community covered?
   Faculty, students, and especially staff—who may generate "work for hire" IP such as software modifications and proprietary content—should be clearly included in the policy.

Review and Oversight Mechanisms

4. Does your institution have an Institutional Review Board (IRB) or a similar body that evaluates faculty inventions and ideas?

5. Do you have access to qualified IP counsel to support institutional decision-making and guide policy interpretation?

6. Are new IP developments regularly reported?
   Faculty and staff should report new IP at least annually, ideally semi-annually, to the appropriate institutional office.

Protection and Maintenance of IP

7. For protected IP, who monitors expiration and renewal?
   Identify the office responsible for tracking protection deadlines and ensuring renewals occur on time.

8. Are new departmental or institutional trademarks being used without proper trademark registration under both federal and state laws?

9. Have your institution’s colors or logos been trademarked to prevent unauthorized use?

Copyright Ownership

10. Who has authority to grant permission to use institution-owned copyrighted works?

11. What is the default ownership policy for faculty-created works?
    While faculty usually retain copyright over publications and other works, exceptions—especially for high-value creative works—may justify profit-sharing arrangements.

Funding and Rights Management

12. Was the invention funded by a third party?
    If so, determine what Step-In Rights were reserved under the relevant grant or contract.

13. For government-funded inventions, has the agency released its Step-In Rights back to the institution?

Revenue Sharing and Exceptions

14. What is the institution’s customary profit-sharing model?
    A common split is:

• 1/3 to the inventor

• 1/3 to the department or college

• 1/3 to central administration (after deducting expenses such as legal fees)

15. Are you planning to deviate from this model?
    If so, document the exception in writing, especially if the deviation supports reinvestment in new ventures.

Technology Transfer and Commercialization

16. Have you engaged a third-party tech transfer firm?
    If so, ensure your agreement clearly defines responsibilities, cost coverage, and profit distribution. This is particularly critical in high-stakes areas like drug development, where faculty may also have ownership stakes in the tech transfer entity.

Final Note

A comprehensive legal review of your institution’s IP policies and practices can help align them with operational realities and stakeholder expectations. Regular evaluations ensure effective protection and fair distribution of the valuable innovations emerging from your academic community.

Although this checklist is general and intended as a reminder, it provides you with information to help ensure institutional compliance and reduce risk. I hope you find the checklist helpful. And I welcome your feedback, so please let me know what I can do tostrengthen this document.  Please be sure to consult with your legal counsel on matters requiring legal advice.

You can reach me at [email protected]