(1) Distribution of royalty payments to inventor(s) shall be made annually, in August, from the amount received in the preceding fiscal year after deducting a share of costs incurred for patenting, patent protection and litigation.
lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Florida Regulations 20-107.006

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
    (2) If appropriate, distribution of royalties shall be prorated to co-inventor(s) after deducting their proportionate share of costs incurred for patenting, patent protection and litigation.
    (3) The Department of Citrus shall withhold distribution of royalties pending resolution of any litigation.
Specific Authority 601.10(1) FS. Law Implemented Florida Statutes § 601.101. History-New 7-29-03.

  Previous
Next  
 Chapter 20-107 Contents