Document on Intellectual Property Policy for Indian Institute of Technology Bombay
 
 
    1. (VI) Revenue sharing:

      The net earnings from the commercialization of IP owned by IITB would be shared as follows:

      It is suggested that amount Q be initially fixed at Rs. 100 lakhs. The creator(s) share would be declared annually and disbursement will be made to the creator(s), their legal heir, whether or not the creators are associated with IITB at the time of disbursement.

      2. Case

      Net Earnings
      Inventor(s) share
      IITB's share
      1
      		 For the first amount Q
      70%
      30%
      2
      		 For the next amount Q
      50%
      50%
      3
      		 For amounts more than Q
      30%
      70%

      When ITB reassigns the rights of the IP to its creator(s) for any country, the creator(s) shall reimburse the costs incurred by IITB for the protection, maintenance and marketing and other associated costs from the cumulative earnings from successful commercialization in that country as under:

      Case

      		 Cumulative Earnings
      Inventor(s) share
      IITB's share
      A
      		 Upto twice the cost incurred by IITB for protection, marketing and other associated costs.
      50%
      50%
      B
      		 Beyond A
      100%
      0%

      Co-creators of IP shall sign at the time of disclosure, a Distribution of IP Earnings Agreement, which shall specify the percentage distribution of earnings from IP to each co-inventor. The inventors may at any time by mutual consent revise the Distribution of IP Earnings Agreement.

    2. (VII) Infringements, Damages, Liability and Indemnity Insurance:

      As a matter of policy, IITB shall, in any contract between the licensee and IITB, seek indemnity from any legal proceedings including without limitation manufacturing defects, production problems, design guarantee, upgradation and debugging obligation.

      IITB shall also ensure that IITB personnel have an indemnity clause built-into the agreements with licensee(s) while transferring technology or copyrighted material to licensees.

      IITB shall retain the right to engage or not in any litigation concerning patents and license infringements.

    3. (VIII) Conflict of Interest:

      The inventor(s) are required to disclose any conflict of interest or potential conflict of interest. If the inventor(s) and/or their immediate family have a stake in a licensee or potential licensee company then they are required to disclose the stake they and/or their immediate family have in the company.

      A license or an assignment of rights for a patent to a company in which the inventors have a stake shall be subject to the approval of the Dean (R &D) taking into consideration this fact.