Word: brinton
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Dates: during 1990-1999
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...income from a patent is more than $50,000, 25 percent of the income goes to the inventor, 20 percent to the inventor's lab, 20 percent to the inventor's department and 20 percent to the inventor's school, Brinton says...
...patents that earn that much are rare, Brinton says. Only approximately 20 percent of Harvard's patents earn more than $100,000 per year...
...additional 15 percent goes into a fund administered by the President's office. The fund is used to "support technology transfer teachniques, or scientific research, or developing innovative teaching methods," according to Brinton...
...Universities across the country are involved in licensing programs like this and are larger or smaller, depending on the type of research," Brinton says. "Stanford has two licenses which bring in over $15 million each," including a patented technique for gene splicing which is used by molecular biologists across the country...
Harvard's OTTL not only oversees the patent creation process, which can take anywhere from two to seven years, but stays in close contact with the companies which hold the patent licenses, Brinton says...