Functions of Commercial and Intellectual Property (ICD)
- Managing intellectual property developed by UMK staff and students in terms of creation, protection, innovation, exports and transfer of technology.
- Coordinating consulting activities involving areas of expertise available at UMK.
- Generate commercialization of intellectual property produced through research and development activities conducted at UMK
- Encouraging institutional development and progress through strategic partnerships to commercialization in the private and public sectors.
- Creating awareness among staff and students about the rights, responsibilities and opportunities of intellectual property, commercialization and consultation.
THE DOWNSTREAM COMPANY POLICY (SPIN-OFF) AND UMK START-UP COMPANY
WHAT ARE THE SPIN-OFF COMPANIES?
- spin-off companies refer to companies established by UMK staff and exploiting UMK's intellectual property and expertise with the approval of the University.
- Start-up companies refer to companies established by UMK staff that do not exploit UMK's intellectual property with the University's approval.
UMK staff are allowed to establish spin-off companies or/ and start-up companies in the form of private companies as stipulated under the Companies Act 2016 (Act 777), and subject to the conditions in the Disciplinary Regulations of Statutory Bodies, the Statutory Bodies Act (Discipline and Surcharge) 2000 (Act 605).
INCOME FROM REGISTERED COMPANIES
Technology licensing fee payment (for the Spin-off Companies)
- The company needs to make a minimum licensing payment of RM10,000 for at least one intellectual property to be commercialized.
Royalty Payment
- The company must pay a royalty of 2 - 5% of gross sales to the university based on the agreement between the company and the university, or
- Various contribution payments
- Research, faculty, or laboratory operating cost expenses
- Contract grants
- Graduate scholarship offers
- Post-doctoral studies
- Donations to the university's endowment fund
