Northeast Ohio medical university has determined that the interests of the university will be served if faculty, staff and students are afforded an opportunity to hold a personal, financial interest in companies commercializing their university research. Participation in technology licensing transactions will facilitate the university's strategic plan by making its intellectual property available for use in the private marketplace. Activities permitted under this rule will enhance the university's ability to recruit and retain high quality faculty researchers. These procedures and guidelines are intended to protect the integrity of the educational, research and service missions of the university, through compliance with university rules and procedures, as well as federal and state laws and regulations while enabling the university to realize the benefits of entrepreneurial activities.
This rule applies to all staff engaged in research at the university (as that term is defined in paragraph (C)(18) of this rule).
Faculty who are not directly involved with research and development of technology licensed to a faculty owned start-up company may hold equity interests in that company only to the extent not prohibited by Chapter 102. and sections 2921.42 and 2921.43 of the Revised Code.
The board of trustees authorized the administration to establish and implement the provisions related to the commercialization of university research as necessary to carry out this rule without further ratification or action required by the board of trustees.
Ohio Admin. Code 3349-20-175
Promulgated Under: 111.15
Statutory Authority: 111.15
Rule Amplifies: 3350.12