Colleges and universities may commercialize intellectual property in which they own or share an interest. (Board Policy 3.26, Part 7)
   
Resources/Agreements - Colleges or universities may use their own resources or may enter into agreements with others to commercialize the work as authorized by law. (Board Policy 3.26, Part 7, Subpart A)

Notice of Progress - Upon request, advise a creator who retains intellectual property rights in a work of progress in commercializing the work. (Board Policy 3.26, Part 7, Subpart A)

Sharing of Proceeds - Share with an employee who retains an intellectual property interest in a work the royalties, licenses, and other payments from commercialization of the work in accordance with applicable collective bargaining agreements, individual agreements, and applicable laws. (Board Policy 3.26, Part 7, Subpart B)

Deduction of Expenses - Deduct from the proceeds received from commercialization of the work and reimburse to the college or university the costs and expenses listed in the policy prior to disbursing the creator's share of the proceeds. (Board Policy 3.26, Part 7, Subpart B)

Intellectual Property Account - Establish a general intellectual property account for the deposit of net proceeds received from the commercialization of intellectual property and the reimbursement of expenses, or for any other purpose authorized by the policy. (Board Policy 3.26, Part 7, Subpart C) Income earned from the licensing of college university trademarks and logos is not subject to this requirement for distribution of funds. (Board Policy 3.26, Part 7, Subpart D)