That is very generous from my experience. I used to work for a giant company with a giant patent portfolio and a giant legal department dedicated to making it ever larger. If you created something which the company pursued the patent for, you received a only a pat on the back.
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And I figured you would get 0%, but that it would count for more than a peer reviewed article. As I don’t believe in the benevolence of large institutions, is the 33% to keep faculty from either quitting and then forming a company that licenses the patent or not quitting and doing the same thing? Not this item of course, but I know it happens for potentially more lucrative inventions.
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I’d like to apply for the final 1%
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Mayo is similar but the inventor gets 50%. There are still some that try to work around it. One product that you may know of that came from an idea while working at Mayo is Vanicream. The company was started by the brother of a pharmacist that worked here. 
I believe they have changed the policy since that happened.
This is standard at all universities. Remember the way research works, with rare exceptions, is I as the researcher go out and get external funding for my research via a grant of some kind. The university taxes my grants in the form of overhead to “rent” my space and infrastructure. That tax is actually quite profitable for the university in fact, however with rare exceptions the funding is tied to the researcher not the institution. So I can take my funding elsewhere if they try to screw me over. Also the institution does little to get the funding, so kind of rude to just take the fruits of my labor for money that I got, not from my employer with no compensation given that I basically arrange for my own salary outside the institution (for my research, obviously my clinical work is salary derived from patient care in the hospital).
So these splits are pretty typical at all grant funded academic institutions.
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Yeah, 33% is pretty sweet. We get a few hundred bucks…
At a university? I mean if you invented Remicade (one of my professors did when I was a medical student) it earned something like $500m for the university. Nobody would ever go through the agony of applying for grants if all they got was a few hundred dollars for that.
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We sometimes go through the agony of applying for grants and all you get is your paycheck in the corporate world. However, we’re opportunistic grant appliers. It’s not part of our model.
I’m pretty sure he was referring to a small cash award for being awarded a patent at his company. I’ve heard of companies that do that. Where I work you get the satisfaction of a job well done.
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yeah, when I worked in the corporate world that was true, but on the other hand you didn’t have to somehow make your own salary in corporate research like you do in a university. You don’t get a grant you and and all your staff go bye-bye…
Yep. Crossed fingers that my girlfriend finishes her phd before the funding runs out😶
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