Ownership of Intellectual Property: Statutes and Policies

Under Statute 18 of the University of Chicago Statutes, the University owns inventions, including “device-like” software, made in the course of work at the University, and/or with the substantial aid of its facilities and/or funds administered by it, and such inventions must be disclosed to the University. See the University’s Statute 18 and the Student Manual for additional information. Contact the Technology Commercialization team if you have questions about ownership of intellectual property.

Revenue Sharing Policy

Revenue received from licensing intellectual property is shared with university inventors or authors in accordance with the Revenue Share Policy.

Consulting Agreement Guide

The University of Chicago encourages consulting relationships with commercial enterprises. It is the responsibility of a faculty member or other University employee to ensure that consulting agreement terms do not conflict with their University research and teaching obligations and that they are consistent with University policies and employment obligations and policies. The Consulting Agreement Guide is offered as an aid to faculty and other academic appointees who engage in consulting services.

Startup Agreements

The University encourages and supports the translation and commercialization of University research through multiple channels, including the creation of startup companies.  During the startup process, faculty founders often enter into personal agreements with their startup companies.  These could include shareholder agreements, intellectual property assignment agreements, and consulting agreements, for example.  In order to best position the startup for success, and to ensure that the terms of such agreements do not conflict with the faculty member’s obligations to the University, the University recommends that a “Startup Agreement Rider”, such as this one, be appended to such agreements.

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