A college or university may assign all or a portion of its intellectual property rights to the creator or to any other person as allowed by law, and may receive intellectual property rights from other persons. (Board Policy 3.26, Part 8)
   
Condition of Assignment - As a condition of an assignment, the college or university may preserve certain rights (such as a royalty-free, irrevocable license to use and copy the work), including the right to share in any proceeds received from commercialization of the work. (Board Policy 3.26, Part 8, Subpart A)

Creator Assignment - Any person may agree to assign some or all of his/her intellectual property rights to the college, university or system, and may preserve any rights available to the creator. (Board Policy 3.26, Part 8, Subpart B)

Assignment in Writing - Any assignment of the intellectual property rights must be in writing. (Board Policy 3.26, Part 8, Subpart C)