Provision Language
Definitions
“Wellcome-funded IP” intellectual property that is, or has been, created, exemplified or developed (whether in whole or in part) from the Grant Activities. Unless specified otherwise in the Award Letter, ‘Wellcome-funded IP’ does not include the copyright in articles, scientific papers, lectures or audio or visual aids to the giving of lectures or teaching
8. Intellectual property (IP) and its commercialisation
8.1. You must follow reasonable procedures for the identification, protection, management and commercialisation of Wellcome-funded IP in line with our Intellectual Property policy, particularly where the Grant Activities involve collaboration with, or the contribution(s) of, third parties. You must also ensure (subject to condition 8.2 below) that all Participants assign all Wellcome-funded IP to you.
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8.3. When commercialising Wellcome-funded IP you must prioritise the delivery of public benefit, with no excessive private or personal benefit(s). You must also:
a) obtain our written consent (not to be unreasonably withheld) before you begin commercialisation, unless the waiver in our Consent and Revenue and Equity Sharing policy applies to you;
b) report fully on the commercialisation activities via your Consolidated IP and Commercialisation Report; and
c) enter into our revenue and equity sharing agreement in place at that time as consideration for our consenting to commercialisation.
See our Consent and Revenue and Equity Sharing policy for further details.