Everything you wanted to know about ip but were afraid to ask

1. EVERYTHING YOU WANTED TO KNOW ABOUT
INTELLECTUAL PROPERTY ……BUT WERE
AFRAID TO ASK
Nick Kounoupias 7 February 2018

2. OVERVIEW OF PRESENTATION
• What is Intellectual Property (“IP)
• Justifications for protecting IP
• Types of IP and what you can and cannot do with IP
• Restrictions on dealings in IP
• Commercialising IP
• Case studies from UK Universities on IPR policies
• Successful cases of spin –offs from leading UK universities
• Specific case studies from Oxford, Imperial College and Cambridge

3. WHAT IS INTELLECTUAL PROPERTY?
• Intellectual Property (IP) is the property in creations of the mind such as technical
inventions, literary and artistic works, software, designs, symbols, names used in
business
• The subject matter of IP is very wide and provides property ownership in respect
of the fruits of creative effort or commercial reputation and goodwill.
• Every business has IP- in 30 years of practice as an IP lawyer have yet to come
across a business with no IP
• But even those businesses with IP have little appreciation of its value and use
• Every university is full of IP

4. THE DIFFERENCE BETWEEN PHYSICAL PROPERTY
AND INTELLECTUAL PROPERTY
The fundamental concept of IP is that certain products of human creativity should
attract similar legal rights to those applying to physical assets.
Physical Property:
House, car, house contents, clothes, belongings
Intellectual Property:
Copyrights, Moral Rights, Patents, Trade Marks, Designs, Trade secrets, Database
Rights, Domain Names

5. WHY SHOULD IP BE PROTECTED?
The prime justifications for protecting IP
• Unjust Enrichment
• Natural Rights
• Personality Theory
• Human Rights
• The Social Contract- the utilitarian theory
• Economic Theories

6. JUSTIFICATION FOR IP –UNJUST ENRICHMENT
• The common sense justification:
• Source is the Bible – “you should reap what you sow” (Galatians Ch 6, Verse 7)
• ie: you should not reap that which you do not sow.
• But this does not help in explaining when it would be just or unjust to reap what
you have sown or others have sown

7. JUSTIFICATION FOR IP- NATURAL RIGHTS
• Stems from Locke’s theory of property (not intellectual property)–from 1690. Has
been adopted to cover IP.
• Whenever anyone mixes their intellectual creation with the commons (of ideas,
raw materials or theories) this should be protected and made their own property.
• On this theory property rights in intangible creations operate as a reward for the
authors intellectual creation or a reward for the contribution that the intangible
creation makes to society
• But there are issues with this theory- mainly regarding how you value a creator’s
labour

8. JUSTIFICATION FOR IP-PERSONALITY THEORY
• IP is the representation of an individual’s personality and so that expression needs
protecting.
• An idea belongs to its creator because th idea is a manifestation of the creator’s
personality or self
• Makes sense for certain types of copyright eG; songs, poetry, drama, aesthetic
designs but not for computer software, industrial patents, logos.

9. JUSTIFICATION FOR IP-HUMAN RIGHTS
• IP is recognised as a human right in international law- see Article 2 Protocol 1 of
European Convention of Human Rights , EU Charter of Fundamental Rights and
Article 27 of Universal Declaration of Human Rights
• Issue is over the scope of human right protection for IP eg: UK experience with
plain packaging laws
• Of most relevance is explaining difference in treatment of IP between different
countries, eg: UK and France –note the difference between copyrights vs authors
rights

10. JUSTIFICATION FOR IP- THE SOCIAL CONTRACT
• Often cited as the most persuasive reason for protecting IP partly because
enshrined in US Constitution which gives Congress power “to promote the
progress of science and useful arts by securing for limited times to authors and
inventors the exclusive right to their respective writings and discoveries”.
• This is an expression of Bentham’s utilitarian philosophy – in return for prodcuing
something that benefits society as a whole, society will reward the creator /
inventor by entering into a social contract to grant limited monopoly to exploit IP
• Doesn’t always work. Would songwriter or poet create even if not paid? What
about the researcher? Do they engage in research only because they want to
patent invention?

11. JUSTIFICATION FOR IP- ECONOMIC JUSTIFICATION
• Am not an economist but many economic arguments have been advanced for
why IP should be protected.
• Main one seems to be that IP needs to be privately owned to provide incentives
for the production of intellectual property goods for which there is a market. If IP
were not protected then the needs of the market would also not be met.

12. HOW ARE IP RIGHTS CLASSIFIED?
• IP rights are either registered or unregistered
• Some only exist within a national territory, or within a region (eg: the EU), others
exist all over the world (possibly as a result of Internataonal Treaties such as the
TRIPS agreement adminstered by the World Trade Organisation
• Some are created through EU Directive and Regulations others have developed
over time through cases
• Generally Cyprus confers the same or similar IP rights to those in the UK and the
rest of the EU and has joined most of the international treaties

13. THE MAIN IP RIGHTS
• Patents
• Copyright
• Databases
• Designs
• Trade Marks
• Trade Secrets / Confidential Information

14. THE MAIN IP RIGHTS - PATENTS
• Patents:
• Patents protected worldwide through different international treaties and
processes
• In Cyprus protected by Law No 16(I) 1998 and amending laws
• Confers registered protection on any new inventions or process
• Confers on patent owner a 20 years monopoly in return for disclosing how
created the invention or process

15. PATENTS – CRITERIA FOR REGISTRATION
To be patentable need to show your invention or process is
• new (does not form part of the prior art, that is to say have never been done or
disclosed before),
• contains an inventive step and
• is capable of industrial applicability

16. PATENTS – STEP 1- NOVELTY
An invention is new if it “does not form part of the existing state of the art”
State of the art comprises in relation to an invention
• (a) any matter (whether a product, process, information or anything else ) made
available to the public before the “priority date” of the invention-publication
includes usage and written or oral disclosures but excludes a disclosure made in
breach of confidence six months before the filing date

17. PATENTS -NOVELTY
• (b) the content of any other patent application that is published on or after the
priority date of the invention as long as that other application has an earlier
priority date
• Ie: an earlier as yet unpublished invention may take priority
NOTE: STATE OF THE ART DOES NOT EXCLUDE AN INVENTORS OWN
DISCLOSURES SO AN INVENTOR MUST TAKE GREAT CARE OVER THE TIMING
OF THE PUBLICATION OF AN INVENTION

18. PATENTS – AVOIDING EARLY DISCLOSURE
• A pre-application disclosure by an inventor could inadvertently form part of the
state of the art thus invalidating application for a patent from the start.
• Inventor can take steps to avoid this
• Not exhibiting or publicly using the invention before filing the application
• Ensuring that any person working on the invention signs a confidentiality or non
disclosure agreement
• Ensuring that any marketing agreement signed before an application is filed includes a
confidentiality clause

19. PATENTS- DISCLOSURE AND ENABLEMENT
• Courts apply an objective 2-step test to determine novelty- the subject-matter of
a patent application will form part of the existing state of the art and so will not
be new if an earlier patent
• Discloses matter that if performed would necessarily result in an infringement of the
earlier patent (the inevitable result)
• Is “enabling” ie: provides sufficient information to enable a skilled person to operate
the invention

20. PATENTS – STEP 2 THE INVENTIVE STEP
An invention must involve an inventive step. So what is an inventive step? Has to
be something that is “not obvious”.
This is an objective test – the invention must be deemed inventive in the eyes of a
person “skilled in the art”
The skilled person is a person or team of persons with a wide knowledge of the
area of technology relevant to the invention
Four step test that Court follows

21. PATENTS –STEP 3 INDUSTRIAL APPLICABILITY
• Something could still be patented but be useless or of no value.
• Company X case study
• This test is easily satisfied and criterion will be met where the operation of the
invention produces some tangible and physical result

22. WHAT CANNOT BE PATENTED?
• An idea – must be physical or tangible entity to which idea is attached
• Discoveries, scientific theories and mathematical methods
• Aesthetic creations
• Schemes , ruls or methods for performing mental acts, playing games or doing
business
• Computer Programs! But note difference between EU and US practice here.

23. PATENTABILITY OF COMPUTER PROGRAMS
Only patentable is it makes a substantive technical contribution to the known art, ie:
a contribution that is more than just a computer program
(Very) general rule that US allows business software to be patented but EU does not
EG : fuel injection system for a car. Software alone not patentable but if
consequence is to drive fuel effciency and regulate speed it can be

24. WAYS OF OBTAINING A PATENT
• Patents:
There are four main routes for obtaining a Patent from Cyprus
• European Patent Convention (not EU)
• Patent Co-Operation Treaty
• European Union Patent
• Cyprus Patent

25. THE EUROPEAN PATENT CONVENTION (“EPC)
• Do not confuse with EU Patent. This covers territories outside the EU and is much
older
• File patent application at European Patent Office in Munich
• Registration covers most European countries giving the owner the same rights as
a national patent in each jurisdiction in which the patent is granted

26. PATENT CO-OPERATION TREATY
• Only one application is needed to enable protection in a number of jurisdcitions.
• Over 150 countries signatories to PCT including all countries with a significant
market
• Cheaper than applying in separate jurisdictions
• An applicant has up to 30 months after initial filing dare before jurisdictions need
to be selected.

27. THE MAIN IP RIGHTS-COPYRIGHT
• Copyright:
• Protected in Cyprus by various laws since 1976 gradually implementing the many
EU Directives
• No need to register arises automatically and lasts for between 15 years and life
plus 70 years
• Copyright laws protect literary works, (eg: academic texts, software and some
databases), artistic works (eg: academic diagrams, drawings, flow-charts), musical
works, dramatic works, films, sound recordings, typefaces,

28. COPYRIGHT –EU HARMONISATION
• EU has been harmonising copyright laws for three decades
• Laws harmonised on term of protection, databases, subsistence of copyright on
the internet and other areas
• This means that copyright law in Cyprus is almost identical to that elsewhere in
the EU. Differences are in respect of enforcement and court procedure.

29. INFRINGING COPYRIGHT
• Reproducing copyright work in material form
• Distributing copyright work
• Arranging copyright work
• Publicly performing, broadcasting or communicating to the public a copyright
work
• Secondary infringement
All without a licence – if you want to use copyright will either need to buy it (an
assignment) or get a licence

30. SOME DEFENCES AND EXCEPTIONS TO COPYRIGHT
INFRINGEMENT
• Educational exemptions
• Fair dealing
• Temporary copies
• Incidental inclusion
• Parody

31. THE MAIN IP RIGHTS- INDUSTRIAL DESIGNS
• Designs:
• Governed by law 4(I) 2002 –stems from EU regulation
• Anything in three dimensions that is new, has not been copied and has individual
character can be protected as a design.
• Registered designs last 25 years, unregistered designs last 3 years
• These both protect the aesthetics of a design, that is to say the appearance of the
whole or part of a product resulting from features of , in particular, the lines,
contours, shape, texture, material of the product or its ornamentation

32. THE MAIN IP RIGHTS –TRADE MARKS
Registered Trade marks:
• Can register with Registrar of Trade Marks in Cyprus (Cyprus Trade Mark) or at EU
Intellectual Property Office in Alicante (EU Trade Mark)
• Protects names, logos, slogans, shapes, smells. Best trade marks are invented
names Eg: KODAK, NIKE, POLAROID, ADIDAS, COCA COLA, SCIENT, CYBAN,
• When we look at later spin outs think about the names!
• If name or logo is registered confers permanent monopoly as lasts ten years but
can keep renewing the trade mark. Can register just about anywhere in the world.

33. THE MAIN IP RIGHTS-MISCELLANEOUS
Trade Secrets / Confidential Information
• No specific laws in Cyprus legislation but protects trade secrets and confidential
information which is specifically expressed to be so. Permanent protection.
Database Right
• Protected in Cyprus under Law 128(I) 2002 following EU Database Directive-
protects original collections of works, arranged according to a systematic or
methodical manner and being accessible individually by electronic means or by
other way. -25 years protection.

34. WHO OWNS THE IP?
• General rule that the first creator or author of the IP is first owner even if the work is
commissioned by another
• IP created in the course of employment belongs to employer
• IP created by employee OUTSIDE course of employment by employee but during
work hours probably belongs to employee unless significant resource of employer
used
• IP ownership can only be transferred to any other person but has to be in writing
• Permission to use or develop IP (a licence) can be granted by the owner to another
usually in writing by way of a licence.
• Beware EU competition laws.

35. PART TWO-COMMERCIALISING IP

36. WHAT YOU CAN DO WITH IP
• IP = PROPERTY...so can do exactly the same with it as you can with physical
property although the terminology is different
• House / land : Buy / sell / let / rent –freeholder / landlord / tenant
• IP: Purchase /assign / novate / transfer / license / licensor / licensee / rights owner
/ user
• Universities will most likely wish to license their IP but BEWARE EU competition
laws.

37. CONFLICT BETWEEN IP AND COMPETITION LAWS
• IP laws confer monopoly rights on the owner
• EU competition laws demand free and fair competition and directly applicable in
Cyprus
• Tension between the two principles.
• Main EU laws are Article 101 Treaty of the Functioning of the EU which prohibits
concerted practices between undertakings, and that includes certain kinds of
technology transfer licences
• Solution to avoid constant referrals to EU Commission is EU Technology Transfer
Block Exemption of 2014.

38. COMMERCIALISING IP
• A strategy for commercialising IP
• IP Healthcheck or detailed strategic review
• IP strategy aligned with the corporate strategy
• IP risk review
• IP registrations
• IP valuations
• IP and tax
• IP agreements

39. COMMERCIALISING IP
IP HEALTH-CHECKS AND STRATEGIC REVIEWS
• Health check –standard one page form completed by client and then discussed
for an hour over the telephone . Short report of recommendations
• Full IP Strategic Review- tailored questionnaire sent to client, completed together
(usually in person) and review of all documents, reports, papers. Lengthy detailed
report with recommendations

40. COMMERCIALISING IP – REGISTRATIONS
• Once reviewed the IP decide if any of it is capable of registration as a Patent,
Trade Mark or Design
• Consider whether the cost, and openness of a Patent is worth it eg: Coca Cola.
Getting a patent is not always necessary, desirable or sensible. It certainly won’t
be cheap.
• Consider where to register, which jurisdictions you want covered and whetehr to
use an international treaty registration or not

41. COMMERCIALISING IP- IP VALUTAIONS
• May want to get IP valued for many reasons
• To assess security for raising finance
• To value shares
• To obtain good sale price for business
• To obtain benchmark licensing fee

42. ACCEPTABLE WAYS TO VALUE IP
Look at the financial contribution it makes (income method)
• isolate the value contribution of IP and intangibles to income and / or profit
(there are various ways to do this.
Look at what has been spent (cost method)
• Identify the cost to reproduce or replace
• Consider present day value of asset
Compare the IP with historical transactions (market method)

43. IP AND UNIVERSITIES
• What type of IP are we talking about
• Who owns the IP?
• What is the best way to commercialise it?

44. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES
• Have chosen to review the IP policies of three universities -Edinburgh, Leeds and
Sussex.
• Not Oxford, Cambridge or Imperial College as these are far more sophisticated
than other universities with long history of spin out companies.
• Am aware that Cyprus University of Technology has recently produced a Policy on
Ownership, Transfer and Commercial Exploitation of IP. 32 pages long.
• Will look at ownership / royalty split and independent adjudication of disputes

45. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES - OWNERSHIP
• The General Rule is that IP generated by employees and students of the
University in course of their employment belongs to the University
• IP created by employees outside the course of their employment belongs to the
employee concerned except where the University resources have been used to
create the IP
• Edinburgh follows the General Rule-little deviation from this. Leeds is the most
pro-inventor, Sussex the most commercial. Worth reading each in detail.

46. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES - OWNERSHIP
• Leeds takes a more collegiate different approach
• “Not all IP generated by staff during the course of their employment necessarily
belongs to the University. There are two exceptions to the general rule.
• (a) The University may as a matter of public policy determine that particular categories
of IP should be vested in the staff that produce them. Nonetheless the University’s
capacity to waive its claim to IP is limited partly for pragmatic financial reasons, but
also because it is a charitable body (and therefore obliged by law to do so), the
University has to take all reasonable measures to seek to maximise the return on its
assets. In practice the University has decided not to make any claim over income
earned by members of staff from academic publications”

47. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES - OWNERSHIP
• (b) “Some IP is generated on research or other third –party contracts the terms of
which may give third parties (usually the funding body in question) rights over
some or all of the IP. (In practice such third party rights will be negotiated
between the University and the funding body before the research contract in
question is signed”)
• Leeds does also confirm the general position also but then specifically repeats
that the University is committed to sharing with the staff concerned the rewards
derived from successful commercial exploitation of IP which they have generated”

48. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES - OWNERSHIP
• Sussex University follows general rule and also does not claim its rights of
copyright in books or articles for learned journals written by members of staff or
students
• But Sussex does claim ownership in ALL other forms of IP including other forms
of copyright (eg: software and its documentation, distance learning materials, e-
learning material, web site content and recordings)
• Creators of IP need to be formally identified by completion of an IP disclosure
Record, where there is a possibility of exploitation
• Policy generally much more commercially focussed than the others

49. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES – ROYALTY SPLITS UNIVERSITY /
EMPLOYEE
Edinburgh
• Licence fee to an existing company University negotiates and drafts licences and
splits royalties- percentage in blue where up to £50,000 and in green where
exceeds £50,000
Inventor 50% 35%
Inventors School 30% 35%
University corporate 20% 30%

50. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES – SPIN OUT COMPANIES
Detailed process set out where a new (spin-out) company is formed
• University prepares a brief case setting out why this is the preferred exploitation
route, what other options have been considered, the future role in the company
of the inventors and an outline business plan
• Case is evaluated by a panel convened by senior University staff and at least one
external member knowledgeable about industry. If panel approves formation of
the company it will instruct University to assist in the company formation setting
out such conditions that might be appropriate

51. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES – SPIN OUT COMPANIES
• If approval is given for a company to be formed it will normally be on the basis
that any equity holding at the outset belongs to the University and founders of
the company in proportion to be agreed at the time having regard to different
contributions being provided
• Shares allocated to the University will be in payment of the IP licensed to the
company and University will not make any payment to the company for such
shares
• Taking shares by the University does not preclude it from also requiring monetary
payments in the form of royalties if appropriate

52. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES – SPIN OUT COMPANIES
• “Founders” who are employees of the University will be transferred an
appropriate number of the University’s shares in the company as their share of
Distributable Payments and may in addition be allocated shares for other
contributions they make to the company
• Shares allocated according to the contribution made by the Founder
• Where a company is formed both the University and the Founders shall agree on
any future dilution in their respective share holdings as a result of recruitment of
company management and financial investment. A fundamental principle is that
the University and founders should be treated equally.

53. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES – SPIN OUT COMPANIES
• Leeds – far less detailed but similar principles. No rates.
• Sussex – Very detailed rules set out but broadly similar to Edinburgh but expressly
stated that equity splits will vary on a case by case basis and also decisions on
level of equity rests with the University enterprise Panel. But expressly stated that
by accepting shares in a spin-out company the creator waives any right to share
in dividend income or on disposal of shares in the company. For equity in spin-
out companies then University expects to receive a reasonable proportion of the
founding equity at least equal to that of the academic founders but subject to
contractual arrangents.

54. EXAMPLES OF IP POLICIES FROM SELECTED UK
UNIVERSITIES – INDEPENDENT ADJUDICATION
• Disputes will inevitably arise over ownership of IP and equity splits in spin out
companies. Most UK universities provide for adjudication process with assistance
external advisers.
• Eg; Edinburgh – Policy contains three pages of procedures detailing how to
contests a dispute and possible appeals. If there is a dispute the matter is
referred to an independent expert to be agreed between the Inventor and the
University. If agreement not reached decision made by President of English /
Scottish Law Society. Appeals are possible.

55. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
OXFORD UNIVERSITY
• Commercialisation of IP developed in Oxford through licensing, spin-out creation
and material sales is managed by Isis, a subsidiary company of Oxford University
(“OU”).
• During the creation of the spin-out OU acquires an equity stake in the company
and the management of the University’s equity falls within the remit of Oxford
Spin-out Equity Management (OSEM)
• At an operational level OSEMs support for spin out companies includes managing
formal consent rights, participating in development of growth and exit strategies,
facilitating access to funding and people and investing on behalf of OU.

56. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
OXFORD UNIVERSITY
• Since 1997 Isis Innovation in Oxford has been responsible for creating spin-off
companies based on academic research generated within and owned by OU
• Has spun off a new company every two months on average
• Over £266 million in external investment has been raised since 2000 and five
companies currently listed on London’s AIM market
• Creation of these new spin off companies channels millions of pounds back into
University research, benefits local economic development and has created many
new jobs in the region

57. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
OXFORD UNIVERSITY
• Over £550m of annual funding for research activites atOxford and OU succeeds in
producing a continuous stream od innovative technologies
• Some success stories include:
• Oxford Instruments –first spin off in 1969
• Oxford Immunotec-medical diagnostics based on patented T cell measurement
technology (listed on NASDAQ in November 2013 and raised $65million)
• Natural Motion – leading mobile games and technology company. Sold to Zynga for
over $527million in 2014.
• Adaptimmune- IPO on NASAQ in May 2015 raising $191 million

58. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
OXFORD UNIVERSITY
• Oxitec – effective and environmentally friendly genetic techniques to control
insect pests damaging to crops and human health particularly aedes aegypti
mosquito carrier of dengue fever. Bought by Intrexon in 2015 for $316million.
• Powderject – bought by Chiron (now Novartis) for $550million in 2003.
• Oxford Asymmetry- acquired by Evotec for £316million
• Current portfolio of 81 companies

59. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
IMPERIAL COLLEGE
• Imperial Innovations is a technology commercialisation company based at
Imperial College that combines the activities of technology transfer, intellectual;
property protection and licensing g, company incubation and investment.
• Its goal is to build substantial high quality well-funde and well managed
businesses.

60. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
IMPERIAL COLLEGE
Examples of successful spin outs from Imperial
• Circassia – development of portfolio of novel immunotherapy products for the
long term treatment of common allergies through short treatment courses with
proprietary technologies. Treats house mite allergies, cat allergies etc. Imperial
Innovations has invested £25.5million but total funding of £580million has been
obtained from private investors and from London Stock Exchange lisitng.
Imperial own 9.3% of the share holding and this is apparently worth £79.8million

61. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
IMPERIAL COLLEGE
• Veryan Medical – Veryan’s BioMimics 3D stent technology intended to improve
the biomechanical and blood flow characteristics of vascular stents. Veryan is a
specialist company in vascular disease that has developed and patented a three
dimensional stent technology, BioMimics 3D, the aim of which is to improve upon
the biomechanical and flow characteristics of straight tubular stents, particularly
those used in leg arteries. To date Imperial has invested £13.7million, has a 48.2%
shareholding in the company and its investment has a value of £20.9million.

62. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
CAMBRIDGE UNIVERSITY
• Cambridge Enterprise formed by University of Cambridge (UC) to help students
and staff commercialise their expertise and ideas
• Some of areas within which have brought research and academic work to market
include
• Ground-breaking stem cell research (Defingen)
• Critical suspension technology for Formula 1 racing ( Penske –racing)
• Generative software to give everyone access to a personal composer and change
digital music – (Jukedeck)
• Human genome DNA sequencing - (Solexa)

63. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
CAMBRIDGE UNIVERSITY
• Cambridge Enterprises has released financial information fro the year 1/8/14-
31/7/15
• Income Costs and Investments
• Income from knowledge and technology transfer - £27.7million
• Distributions to academics, universities and others £22.5million
• Costs £3.3million
• Investment in patents £1million
• Charitable donations to University £3.4 million

64. EXAMPLES FROM THE UK OF SUCCESSFUL SPIN-
OFF
CAMBRIDGE UNIVERSITY
UC Achievements 14/15
• 359 consultancy contracts signed
• 141 new technology disclosures
• 159 new patent filings
• £6.5 million translational funding won with support of Cambridge Enterprise
• 13 companies receiving new or follow on investment

65. SUMMARY OF UNIVERSITY ISSUES
• All universities have IP and need to be clear on who owns it and what can do with
it
• Where there’s a hit there’s a writ waiting- get all agreements clearly documented
• Introduce easy to follow and balanced IP policy to create internal culture of all
working together not University vs Researchers
• Decide whether to follow the Oxford approach or the Cambridge approach
• Lobby Cyprus Government for tax incentives to foster innovation and make
Cyprus an IP hub. UCY and this Centre best placed to lead this.

66. THANK YOU FOR LISTENING-QUESTIONS??
Nick Kounoupias
CEO and Founder Kounoupias IP
nick@kounoupiasip.com
00 44 917 6217