Repository: UIHistories Project: Board of Trustees Minutes - 1984 [PAGE 253]

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244

Date 4/28 4/28 4/29 4/29

BOARD OF TRUSTEES

[May 19

Number Description Cost/Yield Amount $1 000 000 U.S. Treasury bills due 8/11/83 8.26% $ 976 462 500 000 U . S . Treasury bills due 9 / 8 / 8 3 8.32 485 092 1 000 000 Continental Illinois National Bank 8% percent time deposit due 8 / 2 2 / 8 3 8.38 1 000 000 1 000 000 Continental Illinois National Bank 8% percent time deposit due 8 / 2 3 / 8 3 8.38 1 000 000

50 92 00 00

On motion of Mr. Cobb, this report was approved as presented. Agreement with the Semiconductor Research Corporation (Exceptions to the Genera/ Rules)

(30) T h e University has been negotiating with the Semiconductor Research Corporation (SRC) of Research Triangle Park, North Carolina, which desires to support several University research projects in the field of microelectronics. SRC is a nonprofit corporation recently formed to support basic academic research of interest to its members. Such members include most of the major corporations in this field (e.g., Control Data, Digital Equipment, Hewlett Packard, Honeywell, IBM, Intel, Motorola, and National Semiconductor). The proposed contract terms include provisions with respect to patent and royalty rights which are inconsistent with the University's General Rules Concerning University Organization and Procedure: 1. Ownership in all inventions conceived or reduced to practice under the proposed SRC contracts vests with the University. However, should the University elect not to file for patent protection on any such invention, SRC may direct the University to file and will reimburse the University for expenses incurred pursuant to such filing. For those inventions where the University files for a patent at SRC's direction and expense, SRC will share any resultant royalties on an equal basis with the University. [Section 8 ( d ) of the General Rules provides that such a royalty-sharing agreement be specifically approved by the Board of Trustees.] 2. For all inventions which result from SRC sponsorship, the contracts grant SRC an option to negotiate a nonexclusive, royalty-bearing license. There is no contractual requirement, however, that a license subsequently negotiated under such option include the right of the University to terminate for lack of aggressive development by licensee. [Such would normally be required by Section 7(e) (3) of the General Rules, even for a nonexclusive license.] Both of these exceptions to the General Rules have been reviewed by the University Patent Committee in the context of the negotiated agreement and found to be reasonable and appropriate under the circumstances. T h e committee has recommended that the Board of Trustees grant approval for the University to enter contractual agreements with SRC which contain the patent provisions as described above. I concur.

On motion of Mr. Cobb, this recommendation was approved. Recommendation of the University Patent Committee

(31) T h e University Patent Committee has recommended the following action concerning an invention made at the University of Illinois. Background information has been sent to the Committee on Patents of the Board of Trustees. Stud Holder and Immobilizer — Scott Kerrigan, student in the College of Architecture, Art, and Urban Planning, Chicago, inventor.