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​Finance and Property Committee

Commercialisation Sub-Panel



1. The constitution of the Sub-Panel shall be the Principal (Convenor), Director of Finance and Operations, University Secretary and the Chair or other lay member of Court.


Terms of Reference

​2. The Panel is charged with reviewing the business case for the exploitation of intellectual property (IP) through creation of spin-out companies.  Any such business case is required to have the backing of the Dean from the sponsoring School and is to include the analysis which has led to preferring new company incorporation over third party licensing and royalty models, as well as comment on matters of reputation.   In reviewing the business case, the Panel will be informed by the most recent SFC guidance on related companies (currently contained in HEFCE circular 2005/48 - published in 2005 and available electronically at:  http://www.hefce.ac.uk/pubs/hefce/2005/05_48/).

3. In relation to existing University-related spin-out companies, the Panel is charged with considering the case for any proposed change to investments, such as second round funding or where University consent is required to the terms of external funding on offer (covering such issues as equity, conversion of a license to a formal assignation of University IP, or a variation in royalties.)

4. The Panel’s conclusions will be brought back to F&PC for final approval before any contractual commitment is entered into. In the case of exceptional urgency, the Committee Convenor or, in his/her absence, the Chair of Court will be asked to make the final decision by taking Convener’s action and informing Committee members at the first opportunity.

5. The Panel is also charged with reviewing the University’s strategic approaches to IP management (though not day to day management of IP which will be dealt with by the Vice Principal and the Director of Finance and Operations under the Schedule of Delegated Authority).  This will include, for example, whether the University should consider transferring IP more readily to third parties rather than entering into formal licensing or royalty arrangements.  The Panel’s conclusions will be brought back to F&PC for final approval.



6. Two members, to include the lay member of Court.