81-1280 Fund; patents; powers of director; royalties. - Nebraska Statutes

81-1280. Fund; patents; powers of director; royalties.The Director of Economic Development may acquire title on behalf of the State of Nebraska to any patent resulting from research projects conducted with funds of the Nebraska Agricultural Products Research Fund. The director, with the approval of the Governor, may grant licenses or otherwise dispose of a patent as he or she deems to be most favorable to the State of Nebraska. Any royalties or other income derived from the licensing, sale, or use of a patent shall be paid into the fund to be used for the purposes of the fund. SourceLaws 1961, c. 7, § 1, p. 82; Laws 1967, c. 11, § 3, p. 96; R.S.1943, (1987), § 2-2504; Laws 1989, LB 10, § 3.