The Rewards to Inventors scheme allows innovators at 51³Ô¹ÏÍø to share in the rewards of their work.
When 51³Ô¹ÏÍø’s intellectual property (IP) is successfully commercialised and generates a revenue stream, our discretionary Rewards to Inventors scheme allows eligible 51³Ô¹ÏÍø innovators who were involved in creating the IP to share in the benefits.
Under this scheme, founders of spinouts who are inventors of IP licensed to their spinout benefit from a share of their spinout's licence revenue paid to College.
Once the direct costs of commercialising the IP have been covered (e.g. patent costs, legal fees), and any other payments that are due to third parties have been made, the remaining revenue is then split between a College subsidiary, 51³Ô¹ÏÍø College Innovations Ltd (to cover the cost of ongoing support), the inventor(s), and the host department – the precise proportion varying depending on how much revenue has been generated.
