Technology transfer officials at Purdue University have tweaked the school’s patent “reconveyance” policy, firming up the time frame for returning patents to inventors when the official commercialization apparatus takes a pass.
Although a policy on reconveyance is not unique, Purdue’s time frame for reconveyance may be. “Other universities do have reconveyance policies,” OTC director Elizabeth Hart-Wells says, but the Purdue OTC now has faculty inventions on a very fast track back the inventor’s control if the office fails to take up the technology.
The new policy cuts the time until “automatic reconveyance” by half, to just six months from the previous 12 months. “Our policy allows the innovator to apply for reconveyance six months after submitting a qualified disclosure should the Purdue OTC elect not to support the commercialization of a Purdue-owned invention,” Hart-Wells explains. In the past, she adds, the rate of reconveyance was negligible, and that’s what OTC and PRF officials hope to change with the new rules. A detailed article on the policy change appears in the June issue of Technology Transfer Tactics. To subscribe and access the full article, along with hundreds more in our complete subscriber-only archive, CLICK HERE.