Equity

  1. UoN may accept equity in lieu of full or part payment of royalties in addition to monetary consideration for intellectual property in a company pursuant to the provisions of this Policy.

  2. University acceptance of equity in consideration of licensing a University innovation shall be based upon the principles of transparency, objectivity and fairness in decision-making and the pre-eminence of the education, research, and public service missions of the University over financial or individual personal gain. Such licensing activity shall be conducted in accordance with this and other related UoN policies and guidelines.

  3. The University shall handle all subsequent relationships with a licencee with whom the University has accepted equity in a commercial manner, pursuant to relevant University policies and guidelines .

  4. The terms of an innovation licence, other than those related to the acceptance of equity in the company by the University shall be consistent with University transactions for comparable innovations.

  5. When the University accepts equity in a company as partial consideration for a licence, the University shall take into account any legal restrictions and the wishes of each innovator or inventor involved.

  6. The University shall pay the Innovator's share of equity consistent with the formula established under this Policy for the distribution of royalties

  7. The University shall distribute cash upon conversion of equity to cash, in accordance with the royalty distribution formula under this policy.

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