In 2018, the university’s Board of Trustees approved a new Intellectual Property Policy. The policy governs the ownership, commercialization, and certain other uses of the inventions and copyrighted materials created by the faculty, staff, and students of the university.
When inventions or copyrighted materials are owned and commercialized by the university, the creators—whether faculty, staff, or students—are entitled to a share of the royalties that the university gets, after deducting for the direct expenses of the commercialization process. The creator is entitled to 50% of the first $100,000 of net proceeds that the university receives, and 34% for any net proceeds beyond $100,000.
For details see Section V of the policy.