nelson by xiaocuisanmin

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									From Invention to Start-Up
    Resources at the UW
             November 21, 2006



         Alan C. Nelson, Ph.D.
  Chairman and CEO @ VisionGate, Inc.
       & Affiliate Professor @ UW
     1980 Bayh-Dole Act
                (P.L. 96-517)

• Universities would own the patent rights resulting
  from government sponsored research
• Mandate to bring those inventions to commercial
  partners for the benefit of the public
• Catalyst for the formation of university tech
  transfer offices
     1994 WA Ethics
   and Public Service Act
                (RCW 42.52)
• Ensures that all state employees conduct business
  with the highest ethical and moral standards
• Overly strict interpretation resulted in conflict of
  interest and property use directives that were not
  business friendly
• Inconsistencies arose
• Policing of faculty discourages entrepreneurialism
        2005
Revised WA Ethics Law
• Universities now allowed to develop their
 own administrative processes that would
 apply in place of the previous obligations
 under RCW 42.52
 Sections Superceded
• Financial interests in transactions
• Assisting in transactions
• Employment after public service
• Compensation for official duties
• Compensation for outside activities
• Honoraria
• Gifts
• Use of persons, money or property for
 private gain
        New Possibilities?
• No matter what, full disclosure is paramount
• You can consult and be paid in cash and stock
 —and the sky is the limit!
• You can be a founder and director, but do not
 manage the day-to-day business
• You can use your office, computer, library,
 etc. in a de minimis manner
• Take a leave of absence—be a CEO
          NeoPath, Inc.
• Founded in 1989 while on the faculty
• Hired early employees including several
    graduate students
•   Served on the Board of Directors
•   Received cash and stock grant
•   Was granted leave of absence
•   Left the university to run the company
    and take it public
         VisionGate, Inc.
• Founded in 2001
• Brought the company into the UW
• Collaborate for $4M in government funds
• Pay faculty and students to be on the team
• Co-invent new IP and pursue patents
• Offer to make the UW a co-investor….

								
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