Primary Industries Research and Development Act 1989

Without limiting the generality of subsection 12(1), an R&D Corporation may enter into an agreement with a person for the carrying out of either or both of the following by the person:

research and development activities;

marketing activities as mentioned in paragraph 11(ea) or (eb).

Without limiting the matters that may be included in the agreement, the agreement may:

provide for the money provided under the agreement, and any property acquired or goods produced with that money, or with money that includes that money, to be used for the purposes specified in the agreement; and

provide for the payment by the person to the Corporation of an amount equal to the whole, or such part as the Corporation determines, of the money provided under the agreement if any of the money, property or goods referred to in paragraph (a) is or are used for a purpose not specified in the agreement; and

make provision with respect to:

assigning inventions and interests in inventions; and

applying for patents for inventions; and

commercially exploiting patented inventions; and

granting licences under patented inventions;

provide for the payment by the person to the Corporation of an amount equal to the whole, or such part as the Corporation determines, of any net income derived by the person from the money, property or goods referred to in paragraph (a) or patents or interests referred to in paragraph (c); and

provide for the assignment by the person to the Corporation of any money, property, goods, patents or interests referred to in paragraph (d); and

provide for the payment by the person to the Corporation of an amount of money determined by the Corporation in accordance with the agreement in the event of the disposal (otherwise than to the Corporation) of any property, goods, patents or interests referred to in paragraph (d).