The person or unit designated by the University shall maintain records of the University’s Intellectual Property in an appropriate form and in sufficient detail. It shall monitor the deadlines for the payment obligations related to the maintenance of protected Intellectual Property, and shall, within 14 days, inform the person or unit designated by the University.

The person designated by the University shall maintain accounting records on each Intellectual Property. He or she shall ensure that the Intellectual Property is recorded in the accounting records, any costs incurred are paid in due course and that the revenues from exploitation are distributed.