Creates the intellectual property asset management advisory council

1 Co-sponsor

• Liz Krueger

BILL NUMBER:S996

Title of bill

An act to amend the public authorities law, in relation to creating the intellectual property asset management advisory council; and providing for the repeal of such provisions upon expiration thereof

Purpose or general idea of bill

This bill would create an Intellectual Property Asset Management Advisory Council within the New York State Foundation for Science, Technology and Innovation.

Summary of specific provisions

Section 1 provides for the legislative intent and findings.

Section 2 amends the public authorities law by adding a new section 3154-a:

* Creates an eleven-member Intellectual Property Asset Management Advisory Council, consisting of: the Commissioner of the Department of Economic Development, the Chairman of the New York State Energy Research and Development Authority, a trustee of the State University of New York, a trustee of the City University of New York, a member of the Governing Board of the Commission on Independent Colleges and Universities, and seven public members, with three appointed by the Governor, and two each appointed by the Temporary President of the Senate and the Speaker of the Assembly. The seven public members must have relevant knowledge and experience.

* Requires the Advisory Council to submit a report to the Foundation Board within two years recommending how the State should treat State owned intellectual property created under State contracts, grants, and agreements.

* Based on the recommendations of the Advisory Council, the board must submit a report to the Governor, Speaker of the Assembly, and Temporary President of the Senate providing guidance on issues relating to intellectual property.

Section 3 contains a repealer to go into effect 120 days after the Foundation submits its report to the Governor and Legislature.

Justification

State-funded research grants represent an investment of public resources. Consequently, the State needs to manage its rights to intellectual property derived from these investments so that the intellectual property is best utilized for the benefit of the State and its taxpayers, as well as the private sector. The intellectual property rights acquired by the State as a result of State-funded research represent a great opportunity to return social and economic value to New York citizens.

The dissemination, application, and utilization of the intellectual property can play a significant role in the development of new consumer and industrial products and in the enhancement of the productivity and competitiveness of businesses involved in the production of existing products. This bill would establish an advisory council to develop recommendations to the Governor and the Legislature on how to organize and manage the cataloging, marketing, licensing, and legal protection of all intellectual property rights of the State.

Prior legislative history

2010 - S.6333 COMMITTED TO COMMERCE - A.4729 Referred to Ways and Means

Fiscal implications

None.

Effective date

120 days after enactment.