Summary
| Report Number: | 01-144 |
|---|---|
| Report Title: | University Research Foundations Patents and Royalties |
| Report Period: | N/A |
| Release Date: | 05/14/2001 |
Audit Scope and Objectives
This audit focused on whether universities are permitted by law to assign their rights and related income in intellectual property to research foundations. Our objectives were as follows:
- To identify universities that assigned their rights and related income in intellectual property (i.e., patents, copyrights, and trademarks).
- To identify laws and Board of Regents rules governing the assignment of those rights and income.
- To determine whether the assignments were made in accordance with those laws and Board of Regents rules.
Summary of Audit Findings
As permitted by Florida law, each university within the State University System has established a division of sponsored research which serves to administer and promote the programs of research at the university. This includes securing patents, copyrights, and trademarks resulting from such research. Since 1986, seven universities established research foundations, created as direct-support organizations, and assigned their rights and related income from patents, copyrights, and trademarks to these research foundations. We question whether the universities have authority to assign their rights and related income in intellectual property to the research foundations.
The written responses to the audit findings are included in audit report No. 01-144.