Moratuwa University Become First University in Sri Lanka to Formulate a Product Commercialization policy

In a first for Sri Lanka, the University of Moratuwa (UoM) formulated a Product Commercialization policy with a view to encourage and incentivize commercialization of Intellectual Property (IP) assets of the UOM that is being developed for the mutual benefit of the UOM and the industry.

This Product Commercialization policy was formulated in line with the
Intellectual Property Policy of the UOM by the Intellectual Property Advisory Committee (IPAC).

Under the policy, it was proposed to establish a University Business Linkage Cell (UBLC) to manage all activities related to the marketing aspects of Intellectual Property.

Further, an ‘IP Commercialization Fund’ was also mooted to to meet the expenses related to marketing, incentives for UBLC staff, payment of honorarium to experts and IPAC committee members.

In terms of Section (VI) of the Intellectual Property Policy of the UOM, ten percent (10%) of gross revenue resulting from Intellectual Property is required to be credited to the special fund

The Fund account is proposed be administered by the UBLC under the supervision and the directions of the Vice-Chancellor.

Under the Policy, UOM will be promoting exclusive licencing and non-exclusive licencing commercilation methods.

The UOM has already published the Fees and Royalty Structure for commercialization.