Management of intellectual property at Virginia universities and colleges is governed by federal and state laws as well as institutional policies. Virginia Tech has adopted, and the Board of Visitors has confirmed, the Policy on Intellectual Properties (Policy 13000). Policy 13000 is specific to Virginia Tech but is, in general, similar to policies of other institutions in the Commonwealth of Virginia and across the nation.
Policy 13000 establishes ownership criteria and provides a process to determine ownership of intellectual property created by university employees or with university resources. State law requires all university employees, as a condition of employment, to be bound by this policy. The policy applies to all permanent and visiting faculty, research faculty, classified staff, wage employees, and students.
An Intellectual Property Committee (IPC), chaired by the Office of Research's Associate Vice President for Research, is established and given the authority and responsibility in relation to the IP policy, including the authority to promulgate such guidelines and procedures as may be necessary for the implementation of the policy and to make appropriate recommendations concerning IP matters to the Provost. Guidelines are provided for use by the IPC in resolving questions of ownership. In addition, the IPC has provided their working guidelines that represent actions and consensus of committee practices in interpreting areas of Policy 13000 which may be ambiguous or not addressed by IPC's working guidelines. Policy 13000 provides a mechanism for appeal of any ownership or other disputed issue in respect to intellectual property.
Policy 13000 establishes responsibilities of the faculty/staff to disclose intellectual property and their rights to share in revenues generated by the successful commercialization of IPs owned by the university. The institution's policy allows for an equal sharing between the university and the originators of the IP of revenues generated from intellectual property. The policy establishes conditions and exceptions to revenue sharing. Further information and assistance in regard to disclosing IP and revenue sharing are provided by Virginia Tech Intellectual Properties, Inc. (VTIP), a nonprofit corporation established to manage the institution's intellectual properties.