MEMORANDUM OF AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Memorandum of Agreement (MOA) executed and entered into by and between:
ATENEO INNOVATION CENTER (“AIC”), a research organization within Ateneo de Manila University, represented herein by its Director, FABIAN M. DAYRIT, Ph.D., hereinafter referred to as AIC;
and
(Student Names/Yr&Major/Course) hereinafter referred to as STUDENTS
WITNESSETH, That:
WHEREAS, AIC is a research organization that aims to promote open innovation within the faculty, staff and students of the Ateneo de Manila University;
WHEREAS, the STUDENTS are seeking the assistance of AIC in the development of technological innovations in order to fulfill certain course requirements, in particular, (specify objective of project, specific output, and time-frame);
NOW THEREFORE, the parties agree that:
1. AIC shall provide free technical assistance for the project;
2. The STUDENTS shall cover the costs of the project, such as materials and other incidental costs (transportation, additional labor, etc.);
3. If this project entails novel technical innovations by AIC, AIC reserves the rights to the intellectual property of the technical innovations. The details of novel technical innovations should not be disclosed by the STUDENTS to the public or any third party. Presentations and reports should first obtain the approval of the AIC. AIC reserves the right to prevent the release of information that may contain valuable IP;
4. This MoA does not imply permission to the use of AIC's trademarks, logos and name without permission;
5. The STUDENTS shall provide the AIC the report/output no later than 20 working days to the AIC after submission of their class requirements;
6. AIC shall respect novel contributions of the STUDENTS. In cases where the STUDENTS, while making substantial use of AIC personnel or facilities, come up with devises or processes that have IP potential, the STUDENTS and AIC shall negotiate the ownership of the IP rights and/or revenues;
7. This MOA shall have a term specified in the time-frame stipulated above, renewable upon the parties’ mutual written agreement;
8. AIC and the STUDENTS shall duly acknowledge the contributions of the other party in presentations, publications and the like, and shall inform the other party of such.
IN WITNESS WHEREOF, the parties sign this MOA this ___ day of ______, 2013 in ______.
ATENEO INNOVATION CENTER (SOM student group name)
By: By:
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FABIAN M. DAYRIT, Ph.D.
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SIGNED IN THE PRESENCE OF:
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