Word: patent
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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...
...find out about inventions that are being made by the faculty," Brinton says. "Once we hear about an invention and get a description, we evaluate if it is something we can get a patent for or if it has commercial application...
Then Brinton's office begins the process of obtaining a patent and finding a good company to hold the patent's license, she says. After that happens, Harvard begins to earn royalties...
...income from patent royalties has grown from $24,000 in 1980 to more than $5.7 million in fiscal year 1994, and continues to grow by between 20 and 30 percent per year, Brinton says...
Stanford's Office of Technology Licensing has a similar breakdown, although it garners patent royalty income of $38 million, compared, to Harvard's $5 million per year. Stanford's royalty income is growing at the same rate as Harvard...