The collaboration agreement is summarized as follows
The collaborator retains ownership of any data and subsequent research results generated by the collaborator. Genomine retains ownership of any data and other results generated by Genomine scientists.
The collaborator and Genomine will work together to publish and patent results from the collaboration. To avoid jeopardizing patentability, each party will provide proposed publications (manuscripts, presentations, etc) to the other party for approval 30 days prior to submission for publication.
The collaborator will notify Genomine of any inventions it makes as a result of the collaboration. Genomine will cover all patent costs for inventions of interest to Genomine.
The collaborator and Genomine each get to use all results and IP from the collaboration for research purposes.
Genomine gets a first right to negotiate a commercial license to any new IP resulted from collaboration and solely owned by the collaborator. For jointly owned IP, Genomine has the right to use it non-exclusively for commercial purposes but also has an option to negotiate an exclusive commercial license. Genomine has a limited period of time within which to notify the collaborator of its interest in obtaining a license. For all commercial licenses for Genomine, the parties will agree in good faith on a reasonable financial return to the collaborator.