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Intellectual Property Rights from Publicly Financed Research and Development Act, 2008 (Act No. 51 of 2008)

Regulations

Intellectual Property Rights from Publicly Financed Research and Development Regulations, 2009

9. Rights of intellectual property creators in institutions to benefit sharing

 

(1) An institution must ensure that intellectual property creators receive their portion of revenues from commercialisation of the intellectual property created by them and governed by the Act, no later than 12 months after the date of receipt of such revenues by the institution.

 

(2) For the purposes of determining nett revenues in terms of section 1 and section 10(2)(b) of the Act, the following costs of intellectual property protection and commercialisation must be deducted from the revenues—
(a) all out-of-pocket costs, fees and expenses that an institution incurs and pays to independent third parties in connection with any of the following activities:
(i) filing, prosecution, development and maintenance of any statutory protection for intellectual property, excluding any amounts recovered by the institution from any third party, including the intellectual property fund established under the Act and any licensee;
(ii) auditing, recovery or collection of gross revenues, including bank fees, charges and other expenses of any kind paid by an institution in order to collect, receive, account for, amounts payable to it for the commercialisation of the intellectual property;
(iii) defence, validation and enforcement of intellectual property rights in any intellectual property office, court or tribunal;
(iv) legal advice and services in respect of the above activities or issuance or conveyance of any securities or other consideration constituting gross revenues, or in respect of any proposed, threatened or actual litigation involving the intellectual property; and
(b) costs directly incurred in respect of market research, business development, marketing, advertising, promotion or sales activities or services, and administrative expenses.

 

(3) Each institution must within 12 months of the coming into effect of these regulations, develop policy provisions for NIPMO's approval, to regulate benefit sharing of non-monetary benefits with intellectual property creators as contemplated in section 1 and section 10(1) of the Act.

 

(4) NIPMO will approve the policy provisions contemplated in subregulation (3).