Enables translation of work in lab/clinic to reach more people
Patenting and commercializing innovative work have the potential to amplify your reach beyond OSU labs and clinics. A new product or service launched from OSU can be used to treat patients or otherwise improve the lives of people around the world. While publication of new knowledge can advance the progress of science, failure to preserve appropriate patent or other intellectual property protection will likely mean that a company will not invest the resources necessary to develop and bring the product to market. Thus an invention having the potential to benefit a large population will fail if a limited period of exclusivity is not provided for the company to recover its costs.
A requirement of federal funding
Federal grants and contracts, and most other external sponsors of research, require OSU to report new inventions made under that funding. Failure to report new inventions can jeopardize the institution's standing with its sponsors.
Meets collegiate and institutional objectives; improves people's lives
Innovation is at the core of the OSUMC mission. It lies at the intersection of research and patient care and is the critical factor to offering new treatments to extend and improve people's quality of life here in Ohio and beyond. By disclosing your invention, you help OSUMC meet its mission and goals.
Offers financial incentives – personal, departmental, collegiate
Beyond the personal reward of knowing that you have advanced science and improved the lives of others, the OSU Policy on Patents and Copyrights provides for sharing of revenue generated from inventions to the inventor, as well as to the inventor's department and college.
Under the current policy, the inventor receives one-half of the first $75,000 of OSU's gross royalties plus one-third of all subsequent net license revenue. The remaining portion of license revenue is shared by the Office of Research and the inventor's college and department. If there is more than one OSU inventor, each receives an equal portion of the inventor share (unless all the OSU inventors agree to a different allocation).
Provides commercialization opportunities in your field; enhances industry contacts; presents collaboration opportunities
Identifying and exploring commercial applications for your work will expand your professional networks. You will gain new industrial contacts and may find new opportunities for collaboration and research funding.