In this Act, unless the context indicates otherwise –

"BBBEE"

means broad-based black economic empowerment as defined in section 1 of the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003);

"commercialisation"

means the process by which any intellectual property emanating from publicly financed research and development is or may be adapted or used for any purpose that may provide any benefit to society or commercial use on reasonable terms, and "commercialise" shall have a corresponding meaning:

"Department"

means the Department of Science and Technology;

"disclosure"

means the provision of full details of potential intellectual property contemplated in section 5 of this Act;

"funding agency"

means the State or an organ of state or a state agency that funds research and development;

"institution"

means –

"intellectual property"

means any creation of the mind that is capable of being protected by law from use by any other person, whether in terms; of South African law or foreign intellectual property law, and includes any rights in such creation, but excludes copyrighted works such as a thesis, dissertation, article, handbook or any other publication which, in the ordinary course or business, is associated with conventional academic work;

"intellectual property creator"

means the person involved in the conception of intellectual property in terms of this Act and identifiable as such for the purposes of obtaining statutory protection and enforcement of intellectual property rights, where applicable;

"intellectual property transaction"

means any agreement in respect of intellectual property emanating from publicly financed research and development, and includes licensing, assignment and any arrangement in which the intellectual property rights governed by this Act are transferred to a third party;

"Minister"

means the Minister responsible for the Department;

"Nett revenues"

means the revenue less the expenses incurred for intellectual property protection and commercialisation of the intellectual property, as may be prescribed;

"NIPMO"

means the National Intellectual Property Management Office established by section 8;

"offshore"

means outside the borders of the Republic;

"prescribed"

means prescribed by regulation;

"publicly financed research and development"

means research and development undertaken using any funds allocated by a funding agency but excludes funds allocated for scholarships and bursaries;

"recipient"

means any person, juristic or non-juristic, that undertakes research and development using funding from a funding agency and includes an institution;

"regulation"

means any regulation made in terms of section 17 of this Act;

"revenue"

means all income and benefits, including non-monetary benefits, emanating from intellectual property transactions, and includes all actual, non-refundable royalties, other grant of rights and other payments made to the institution or any other entity owned wholly or in part by an institution as a consideration in respect of an intellectual property transaction, but excludes a donation and "gross revenues" shall have a corresponding meaning;

"small enterprise"

means a small enterprise as defined in section 1 of the National Small Enterprise Act, 1996 (Act No. 102 of 1996);

"this Act"

includes the regulations made in terms of this Act.