A new pilot program at the University of South Florida could attract more inventors and eventually more patents.
USF has launched it's new Revenue Incentive Patent Cost Sharing Program, which allows inventors to invest their own money in the patent process.
In return, the inventor would receive up to 50 percent of revenue from a successful patent.
Valerie McDevitt, assistant vice president of USF'S Patent and Licensing office, says the pilot program will allow inventors to be more involved in the patenting process.
"We are hoping to see more understanding of that part of the process and more engagement as they kind of put some skin in the game," McDevitt said.
Dr. Paul Sanberg holds more than 70 patents, including patents for new drugs to treat depression and Tourette's syndrome.
Sanberg is a USF inventor and says the new pilot program will give him a bigger return on future patents and possibly allow him to obtain more patents.
"I think this would allow me to get more engaged, allow me to really interact more with the patents and the licensing office of the university, and allow, perhaps, an extra invention or two to really be filed," Sanberg said.
USF may expand the one-year pilot program into next school year if it is able to generate more inventors and eventually patents developed on campus.