The Institute endorses the legitimate expectation of the author(s) to share in the net revenues produced by licensing or other development of the work, but given the Institute's substantial cost involved in supporting scholarship and research, the College is also entitled to a share in any such royalties. Accordingly, for any work in which BAMSI asserts ownership interest under this policy, the College and the author(s) will share the net royalties (revenues less recovery of all legal and other costs involved in protecting the intellectual property rights of the work, licensing costs, and other directly related administrative costs) in the following percentages: Net Royalties
<$5,000 Author(s) 100% BAMSI 0%
$5,000–$25,000 75% 25%
$25,000–$100,000 60% 40%
>$100,000 50% 50%
Net royalties received by BAMSI shall be restricted to support scholarly, research, or creative activity of faculty. If the work is a joint creation, the authors will divide their share equally, unless they provide the Institute with an alternative royalty distribution agreed upon by them. If a work is a compilation involving the Institute's intellectual property, the Faculty member shall retain all ownership interests in his or her creation, but by allowing his or her work to become part of the compilation thereby grants a non–exclusive royalty–free license to the Institute for use of his or her contribution. While the College shall own rights to the compilation, it shall own no rights to the underlying work beyond said license. Notwithstanding the royalty–free license, the Institute will share the net proceeds from the compilation as described above. Recognizing that this area iscomplex and rapidly evolving, BAMSI remains open to the possibility arriving at alternative agreements as the need may arise.