Okla. Stat. tit. 70, § 70-3206.3

technology in cooperation with private entities.

The Oklahoma State Regents for Higher Education shall:

1. Establish, pursuant to the requirements of this paragraph, a

model policy, which to the extent not inconsistent with this section

may be adapted by the governing board of regents for each

institution within The Oklahoma State System of Higher Education,

regarding:

a. the use of facilities, whether consisting of real

property, personal property, intangible personal

property, or any combination of such properties,

within The Oklahoma State System of Higher Education,

for the purpose of conducting research, the principal

purpose of which is to develop or refine a product,

process or idea in cooperation with a private business

entity in order to market the product, process or idea

for profit,

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b. the investment of value available to institutions

within The Oklahoma State System of Higher Education,

in private business entities or the receipt of royalty

income from a private business entity, or both, in

conjunction with research and development conducted on

the premises of or with the assistance of institutions

within The Oklahoma State System of Higher Education,

its faculty, staff or students,

c. a method to inform the faculty, staff, students and

third parties conducting research on the premises of

or with the assistance of the faculty, staff or

students of an institution within The Oklahoma State

System of Higher Education of the policies developed

pursuant to this paragraph, and

d. the extent to which professors and other faculty and

students at institutions within The Oklahoma State

System of Higher Education may acquire property

interests in technology developed on the premises of

or with the assistance of an institution within The

Oklahoma State System of Higher Education or a

property interest in the revenues derived by the sale,

marketing, licensing or other disposition of

technology by an institution within The Oklahoma State

System of Higher Education or by a private business

entity conducting research or engaged in the

development of technology on the premises of or with

the assistance of an institution within The Oklahoma

State System of Higher Education; and

2. Establish policies for institutions within The Oklahoma

State System of Higher Education to:

a. encourage development of a product, process or idea,

whether or not the product, process or idea is

protectable under the intellectual property laws of

the United States or of this state, and to encourage

the institutions to take such actions as may be

appropriate in order to promote the development of

products, processes or ideas having a potential for

the improvement or advancement of:

(1) medical technology,

(2) biotechnology,

(3) energy technology,

(4) telecommunications technology,

(5) chemical technology,

(6) industrial technology, and

(7) such other technologies as are deserving of the

resources and assistance available through

institutions and the faculty and students of

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institutions within The Oklahoma State System of

Higher Education,

b. develop appropriate methods to maintain a system for

recording the nature of research being conducted at

institutions within The Oklahoma State System of

Higher Education and the results of research having

potential for protection pursuant to the intellectual

property laws of the United States or of this state,

and

c. develop a system to account for:

(1) expenses associated with research and development

conducted on the premises of or with the

assistance of an institution within The Oklahoma

State System of Higher Education,

(2) the financial relationships, if any, established

between those institutions and private business

entities,

(3) the acquisition of equity interests in private

business entities,
develop a system to account for:

(1) expenses associated with research and development

conducted on the premises of or with the

assistance of an institution within The Oklahoma

State System of Higher Education,

(2) the financial relationships, if any, established

between those institutions and private business

entities,

(3) the acquisition of equity interests in private

business entities,

(4) the receipt of royalty income or other income

related to the sale or other disposition of

products, processes or ideas by institutions or

private business entities with which the

institution has established a financial

arrangement,

(5) the gains or losses upon the sale or other

disposition of equity interests in private

business entities, and

(6) such other matters relating to the income and

expenses associated with the research,

development, intellectual property protection,

marketing, distribution or other matters as the

State Regents determine to be appropriate.