KSU will communicate its decision regarding whether to pursue protection and commercialization of the intellectual property to the creator(s) within a reasonable timeframe, typically within 90–120 calendar days of receiving a complete disclosure.
If KSU decides not to pursue protection or commercialization of KSU-owned intellectual property, it may, at its sole discretion and subject to any third-party rights (such as those of a research sponsor), offer to assign its rights in the intellectual property back to the creator(s) under terms and conditions determined by KSU. Such terms may include reimbursement of KSU's patenting and other protection costs, a retained license for KSU to use the IP for research and educational purposes, and a share of future revenues if the IP is successfully commercialized by the creators.
Kentucky State University is committed to facilitating the transfer of technology and the commercial development of intellectual property for public benefit. KSU may, at its discretion, enter into licensing agreements or pursue other arrangements for the commercialization of KSU-owned intellectual property. Decisions regarding the method of commercialization will be made by KSU, in consultation with the creators where appropriate.
Net revenue generated from the commercialization of KSU-owned intellectual property will be distributed according to a schedule established and periodically reviewed by KSU, at least every five (5) years.
Unless otherwise contractually obligated or agreed in writing, net revenue will be shared among the creator(s), the department(s) or unit(s) of the creator(s), and KSU as follows:
Any such distribution is subject to the terms of sponsored research agreements or other contractual obligations. For example, federal funding may have specific requirements under the Bayh-Dole Act.