§ 15-4-1403 - Prototype development center -- Objectives of program. - Arkansas Statutes

15-4-1403. Prototype development center -- Objectives of program.

(a) The Board of Trustees of the University of Arkansas, in consultation with the Arkansas Inventors Congress, is authorized to establish a Center for Prototype Development and Emerging Technologies at the University of Arkansas at Little Rock to provide assistance to inventors.

(b) The inventors' assistance program shall be designed to:

(1) Attract inventors from throughout this state, the nation, and other countries and encourage them to submit their proposals for review and evaluation;

(2) (A) Provide assistance to inventors whose proposals are accepted after evaluation and review.

(B) Assistance may include limited patent searches, market analysis, product research and development, assistance in obtaining financing, business counseling, and any other assistance not prohibited by the constitution or laws of this state which is necessary to develop the product to the commercial state.

(C) To protect both the state and the inventor, a disclosure document shall be on file with the United States Patent and Trademark Office before the center will review a proposal;

(3) Provide assistance to enable the manufacturing, marketing, and distribution of the product; and

(4) Protect the confidentiality of each inventor's proposals to the extent permitted by law.