Once the project is accepted, all parties must sign
a Research Contract that
outlines the roles and responsibilities of PSU, the researcher(s), and the
industry partner. This contract will detail the 50% cost-sharing arrangement,
project milestones, and terms for intellectual property ownership. Additionally,
the contract will include provisions for profit sharing, ensuring that any
revenues generated from the project are distributed equitably among the parties.
The contract must be signed by the principal investigator (PI), the industry
partner’s representative, and authorized PSU officials.
After signing, the project PI must submit the contract and all required
documentation through the Funded PSU Research Projects Information Form to
ensure proper tracking and processing by RIC.