8 No. 31745 Act No. 51, 2008 GOVERNMENT GAZETTE, 22 DECEMBER 2008 INTELLECTUAL PROPERTY RIGHTS FROM PUBLICLY FINANCED RESEARCH AND DEVELOPMENT ACT, 2008 (e) refer disclosures for which it elects not to retain ownership or not to obtain statutory protection to NIPMO within 30 days or such longer period as may be prescribed, of it making such an election; (f) in the case of an institution, manage revenues due to it from intellectual property transactions and the commercialisation thereof, including managing 5 the benefit-sharing arrangements with intellectual property creators at the institution; (g) negotiate and enter into intellectual property transactions with third parties on intellectual property belonging to the recipient; (h) report to NIPMO twice a year and as provided for in this Act, on all matters 10 pertaining to the intellectual property contemplated in this Act, including all intellectual property from which it elects to obtain statutory protection and the state of commercialisation thereof, in a manner stipulated by NIPMO; (i) provide NIPMO with full reasons in respect of any intellectual property that is 15 not commercialised; and (j) in respect of an institution, put in place mechanisms to annually assess, record and report to NIPMO on the benefits for society of publicly financed research conducted in that institution. Establishment of office of technology transfer at institutions 6. (1) Unless determined otherwise by the Minister in consultation with the Minister responsible for higher education, or any other Cabinet minister to which an institution reports, any institution must, within 12 months of the coming into effect of this Act— (a) establish and maintain an office of technology transfer; or (b) designate persons or an existing structure within the institution to undertake the responsibilities of the office of technology transfer. (2) An office of technology transfer is responsible for undertaking the obligations of the institution in terms of this Act. (3) Two or more institutions may with the concurrence of NIPMO establish a regional office of technology transfer. (4) (a) NIPMO may, on terms and conditions determined by it, provide assistance to institutions for the establishment of offices of technology transfer. (b) The assistance contemplated in paragraph (a) may include— (i) financial assistance; (ii) co-ordinating the establishment of a regional office of technology transfer, where applicable; and (iii) development of appropriately skilled personnel for the offices of technology transfer. 20 25 30 35 Functions of office of technology transfer 7. (1) The functions of an office of technology transfer must be performed by appropriately qualified personnel whom, when considered collectively, has interdisciplinary knowledge, qualifications and expertise in the identification, protection, management and commercialisation of intellectual property and in intellectual property transactions. (2) An office of technology transfer must, in respect of publicly financed research and development— (a) develop and implement, on behalf of the institution or region, policies for disclosure, identification, protection, development, commercialisation and benefit-sharing arrangements; (b) receive disclosures of potential intellectual property emanating from publicly financed research and development; (c) analyse the disclosures for any commercial potential, the likely success of such commercialisation, the existence and form of the intellectual property rights, the stage of development thereof and the appropriate form for protecting those rights; (d) attend to all aspects of statutory protection of the intellectual property; (e) refer disclosures to NIPMO on behalf of an institution; 40 45 50 55