Oklahoma § 74-5064.6 - Proposals - Contracts

§ 74-5064.6. Proposals - Contracts

A. The Oklahoma Center for the Advancement of Science and

Technology (OCAST) shall charge a filing fee of One Hundred Dollars

($100.00) for each proposal submitted for review and evaluation.

B. After review and evaluation, proposals shall be accepted or

rejected for development under the inventors assistance program.

OCAST shall not charge for any services to aid in the development of

the product. Services may include patent searches, market analysis,

product research and development, assistance in obtaining financing,

including financing from private sources, and business counseling,

if needed. Provided, OCAST shall receive a fee not to exceed an

amount equal to ten percent (10%) of all royalties from any product

developed under the inventors assistance program for a period of ten

(10) years from the first day after royalties are received from the

commercial licensing, rental or sale of the product.

C. Before services to aid in the development of the product

shall commence, OCAST shall enter into a contract with the inventor

which shall include, in addition to any other provisions consistent

with the provisions of Section 5064.1 et seq. of this title:

1. The services which OCAST will provide to aid in the

development of the product;

Oklahoma Statutes - Title 74. State Government

2. Any other services which OCAST will assist the inventor in

obtaining and for which the inventor shall be liable pursuant to

written consent;

3. Authorization for OCAST to receive a fee not to exceed an

amount equal to ten percent (10%) of all royalties from the product

for a period of ten (10) years; and

4. An agreement from the inventor that all products developed

under the program shall be researched, developed, manufactured,

packaged and distributed from this state to the extent that it is

economically feasible. Provided, the fee not to exceed an amount

equal to ten percent (10%) of all royalties from products developed

under this program wherever manufactured shall accrue to this state

pursuant to the provisions of Section 5064.1 et seq. of this title.

Added by Laws 1987, c. 121, § 6, eff. Nov. 1, 1987. Amended by Laws

1988, c. 313, § 3, emerg. eff. July 1, 1988; Laws 1998, c. 250, § 3,

eff. July 1, 1998.