83R6516 MMC-F
By: Villalba H.B. No. 2051
A BILL TO BE ENTITLED
AN ACT
relating to the authority of public institutions of higher
education to make certain investments to support technology
commercialization.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 153.006(a), Education Code, is amended
to read as follows:
(a) In order to carry out the purposes of this chapter and to
support the activities of centers described in this chapter, to the
extent authorized by its governing board, an institution of higher
education may:
(1) enter into agreements establishing royalties,
fees, and other consideration for technology developed in whole or
part by the institution [it];
(2) accept equity interests, including convertible
notes, in organizations that license, manage, or otherwise
administer rights to technology belonging to the institution [it]
or under its control in exchange for such rights, in whole or in
part;
(3) accept equity interests, including convertible
notes, in organizations that license or otherwise have rights in
the institution's [its] technology as consideration for its
providing monetary, business, scientific, or engineering services
or technical assistance;
(4) use income from the commercialization of
technology to fund the activities of the center;
(5) solicit, accept, and administer gifts, grants, and
donations;
(6) enter into contracts for legal services with a
competent lawyer or law firm to:
(A) prepare, file, pursue, and maintain patent
applications in the United States or foreign jurisdictions;
(B) secure copyright protection for computer
software;
(C) prepare, file, and pursue trademark and
service mark applications;
(D) pursue litigation to prevent or stop
infringement of any intellectual property rights of the
institution; or
(E) handle any other legal matter related to the
operation and activities of the center; and
(7) enter into such other business arrangements as may
be appropriate for achieving the purposes of this chapter.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2013.