If you are an FAU faculty member or employee and considering creating a company based on FAU owned technology, here are the steps to follow:

1. Submit an Invention Disclosure to FAU Technology Transfer if you are the Creator(s).
2. Intellectual Property Advisory Committee reviews the Invention Disclosure for Technology Transfer and recommends the action to be taken by Technology Transfer regarding the ownership of the Invention.
3. If you are not the Creator(s) you can contact Technology Transfer to see if the Invention has been submitted.
4. Technology Transfer and/or the Vice President for Research elects for FAU to retain its rights in the Invention.
5. FAU may file for patent or copyright protection for the Invention.
6. Your company can license the Invention from FAU through the Florida Atlantic University Research Corporation (FAURC) if the following are completed and approved or accepted:
   1. A complete business plan (sample guideline)
   2. Funding in place to start the company
   3. Management in place other than Creator(s)
   4. Request for exemption from the prohibition against engaging in potential conflicts of interest as set forth in Section 112.313 of the Florida Statutes (sample guideline)
   5. Monitoring plan for conflict of interest (sample guideline)
7. Negotiate the License Agreement with Technology Transfer.
8. Net Income received by FAU through FAURC is distributed to the Creator(s) per the FAU Intellectual Property Policy.

Updated July 2007 by Dianne Parkerson