The commercial exploitation of SARF funded Research Programs results is possible by third party commercial enterprise, by signing a relevant Technology Transfer Contract.
In that case, one of the following three (3) ought to be singed between SARF AUA and the Scientific Coordinator on one hand and the commercial enterprise on the other.
- IPR exploitation concession contract
- Technology transfer contract
- Expertise transfer contract
Said enterprise shall invest in the conversion of the scientific result in a commercially usable product or service. In this framework, said enterprise shall also undertake expansion procedures, possible authorizations procedures needed under legislative framework, marketing, educational procedures, et cetera.
Signing the concession contract, the exploitation of AUA’s and its Researchers IPR is transferred to said enterprise. Said exploitation (but not ownership) is transferred in exchange for gains, financial or otherwise. Two categories of concession contracts are provided; exclusive and non-exclusive concession.
AUA, for every invention or research result, in the framework of a contract ‘s execution, earns profits, the amount of which is stated specifically in the contract as well as the way of payment. The financial gain towards SARF is a percentage of the revenue/profit of the product or service said enterprise exploits commercially.
Consequently, said income will be distributed between the creator (or co-creators) of the University thus: 60% to the Researcher (Scientific Coordinator) of the project and 40% to AUA.
All parties involved in the negotiations for the finalization of the concession contracts are bound abide by the rules of trust and confidentiality concerning the information exchanged by signing a relative special agreement.