Authority: Chancellor
History:
First Issued:
January 11, 2007 - The Office of Technology Transfer (OTT) occasionally has the opportunity to accept, on behalf of NC State, equity in companies as partial consideration for the grant of license agreements. Small businesses and start-ups often do not have the cash available to pay the initial licensing fee, and the acceptance of equity by NC State is a means of enabling otherwise qualified small companies to license NC State technology. The acceptance of equity in a company licensee, however, creates potential conflicts of interest both for the institution and the inventors who own equity in the new company. This Regulation is designed to reduce the potential for real or perceived conflicts of interest, both at the institutional and individual levels, and to implement the Board of Governors' University Equity Acquisition Policy, Policy 500.6.
Related Policies:
UNC Policy Manual 300.2.2 - Conflicts of Interest and Commitment Affecting Faculty and Non-Faculty EPA Employees
UNC Policy Manual 300.6.1.2[G] - External Professional Activities of Faculty and Other Professional Staff
UNC Policy Manual 500.2 - Patent and Copyright Policies
UNC Policy Manual 500.6 - Board of Governors' University Equity Acquisition
NCSU REG 01.25.01 - Conflict of Interest
NCSU REG 10.00.1 - Patent Procedures
NCSU REG 10.00.3 - Royalty Sharing under NC State's Patent Policy and Procedures
Additional References:
N.C.G.S. 14-234, Public Officers or Employees Benefiting From Public Contracts
Inventor Equity Agreement
Contact Info: Director, Office of Technology Transfer (919-515-7199); Office of Legal Affairs (919-515-3071)
