What is meant by intellectual property agreements in Proposition 71?
Proposition 71 requires The ICOC shall establish standards that require that all Grants and loan awards be subject to intellectual property agreements that balance the opportunity of the State of California to benefit from the patents, royalties, and licenses that result from basic research, therapy development, and clinical trials with the need to assure that essential medical research is not unreasonably hindered by the intellectual property agreements. Rather than enter into individual IP agreements, CIRM has enacted regulations to serve this purpose.
