Here are some common terms used throughout the Inventions application. These terms are also frequently used by Technology Transfer offices.
Accounts
A system used to organize financial data that typically mimics the general ledger. Accounts are made up of line items which are subcategories within the account.
Agreement Reimbursement
A reimbursement pursuant to an agreement that provides for the payment of money between two parties where one party reimburses expenses incurred by another party.
Agreement Revenue Allocation Schedule
This schedule determines the manner in which revenue from a single Agreement is allocated among the IP assets associated with that Agreement. Where there is only one principal asset (e.g. 1 Technology or 1 Patent), then 100% of the revenue is allocated to that asset. Where there is more than one asset (e.g. multiple Technologies and multiple Patents), the user may allocate revenue among the assets.
Chart of Accounts
Chart of accounts that is used in an institution’s financial system. This field typically contains the organization, fund, account, and other information specific to the group. This information combined with the journal number and journal date should be used during the reconciliation process.
CDA (Confidential Disclosure Agreement)
Non-monetary form used to send or request confidential information from/to another party.
Global Search
Located in the top right corner, this performs a system-wide search for any data point. Search results from Global Search will include all record types where the search term is included whereas, specific record type searches (ie from the Technology search page or Patent search page) will return only results of those specific record types.
Line Items
Individual pieces of financial data that make up an account; these can also be thought of as account balances. Examples of line items are legal expenses, royalty payments, and distributions.
Cost Recovery Reversal
Credit, typically to a revenue account. Cost recovery reversal is used to calculate the amount that has been recovered via reimbursement. In the event of cost recovery, a user will most likely debit the cost recovery payment account, credit the cost recovery reversal account, and then distribute.
To ensure all funds have been distributed: (Revenue + Cost recovery reversal + Reserved funds available for distribution) - Total distributions
Cost Recovery Payment
Credit that is applied to expenses that were debited from cost recovery distribution.
Distribution
Each technology transfer office has its own policies and procedures for distributing licensing and/or royalty income to inventors and their departments. In general, all offices use distributions to allocate revenue as a result of technology transfer.
iEdison
An interagency online reporting system for recipients of federal funding agreements to report subject inventions to the federal funding agency and complete other reporting as required by the Bayh-Dole Act and its implementing regulations (Reference iEdison).
Revenue
Credits received that are not for the purposes of reimbursement. Typically, revenue is subject to distribution per policy.
Technology
This term refers to the Inventions record that encompasses the Invention Disclosure Form and all of the patents resulting from the invention disclosure. This term is often used interchangeably with “invention”. It is a result of a research initiative and is generated by the submission of a disclosure form, which is reviewed, verified, and validated. Once validated, the disclosure will be converted into a technology record and any patents that are prosecuted from the invention will be associated with the Technology and each other via the Technology.
Disclosure form
A written description of an invention or technology, providing evidence of a discovery, and serves as the formal record.
Financial Compliance
Entries on an Agreement record used to track contractual terms of licenses, options, term sheets, MTAs and other commercial agreements that require a payment from the counterparty (e.g. Annual Licensing Fee). These entries have due dates which can be used when invoicing counterparties for payments.
MTA (Materials Transfer Agreement)
Agreement used to receive or send materials from/to another party outside of your home institution.
Office of Technology Transfer
Similar to the Office of Innovation and Commercialization, the Office of Technology Transfer identifies promising intellectual property arising from conducted research and monitors, markets, and manages technologies.
Primary Manager
This role is assigned to an individual responsible for administering the workflow of a given record. Individuals assigned as Primary Managers for Technology records can be different from individuals assigned to be Primary Managers for Agreement records.
Patent Schedule
Used to record dates and actions for maintaining a patent. It is also used to record the costs related to the work performed or instructed. Authorization codes are generated in this section to be provided to law firms performing the work to include on invoices.
Patent Issue Number
A publication number assigned when a patent application is published after filing. It is the number assigned when the application officially becomes a patent.
LEDES File
“Legal Electronic Data Exchange Standard” – a standardized invoice file format in the legal industry created for the electronic exchange of billing and other information between corporations and law firms.
Slick
An advertisement or outreach email template written to promote and display an asset within Inventions. A slick is used in a Campaign to highlight a few enticing details about a technology to promote partnerships and commercialization.