If you'd like more information on the invention review process...
When an Invention Disclosure Form is received by the appropriate Office of Research Services (ORS), the following steps are typical but may vary depending on the nature of the invention and whether or not the invention was conceived or reduced to practice with external grant support. The scenario below assumes an unfunded case; if Federal funds are involved, additional steps would be needed to accommodate the Bayh-Dole requirements. Click here for a chart showing the parties/units involved in the review process and their relationships.
| Action | Duration |
|---|---|
| Disclosure form reviewed and recorded/filed by Research Services Director; copy sent to technology transfer consultant (TreMonti) for review, with cc to Associate Provost for Research or Senior Assoc. Dean for Research, as appropriate | 1 day |
| TreMonti appraisal returned, along with non-confidential description (NCD) | 2-4 weeks |
| If appraisal is positive, disclosure sent to patent attorney for patentability opinion with cc of transmittal and TreMonti appraisal to inventor, General Counsel or designee, and Associate Provost for Research or Senior Assoc. Dean for Research, as appropriate | 1 day |
| If appraisal is negative, copy of appraisal sent to inventor for concurrence/comments | 2 weeks+1 day |
| Patentability opinion returned | 2 weeks |
| All relevant materials submitted to invention review committee [N.B. in certain cases this and the following step may be omitted] | 1 day |
| Invention review committee makes recommendations, generally either (1) to move forward, or (2) to abandon | 3 weeks |
| Inventor is notified of decision: if to abandon, invention is released to inventor; if to move forward, relevant materials are sent to (1) patent attorney to proceed with provisional patent application, and (2) to TreMonti to begin search for licensees | 1-2 days |
| Provisional patent application prepared and filed | 1-2 months |
| Search for licensees; feedback from TreMonti | 8-10 months |
| Within 1 month of provisional patent expiration date, after consultation with inventor, TreMonti, and (optionally) invention review committee, decision made on whether to file full US patent application and/or seek PCT filing | 1 month |
| If decision is not to proceed, invention is released to inventor | 1 day |
| If decision is to proceed, patent attorney files full US patent application and/or does PCT filing | 2 weeks |
| TreMonti continues marketing of invention | On-going |
| If licensee(s) found, license agreement(s) negotiated | Indefinite |
| Licensee(s) commercialize the invention | Indefinite |
| Licensee(s) return royalties and/or other remuneration, if any, to Loyola | Indefinite |
| Net royalty income split with inventor pursuant to patent policy | Periodically |
