(1) As used in this section, ‘intellectual property’ means patents, copyrights, trademarks, inventions, discoveries, processes, ideas and other similar property, whether or not they are patentable or copyrightable.

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(2)(a) The Oregon Hemp Commission may:

(A) Consistent with the purposes of the commission, develop intellectual property that relates to hemp or assists in the implementation, maintenance or development of commission programs.

(B) Take all necessary and proper actions, including but not limited to entering into contracts and other agreements and owning, managing, disposing of or using the intellectual property.

(b) The commission shall adopt rules to govern the ownership, management, disposal and use of intellectual property and other activities of the commission relating to intellectual property.

(3) Moneys received by the commission as a result of the ownership, management, disposal or use of intellectual property, or other activities of the commission relating to intellectual property, must be deposited into the account established by the commission as described in ORS § 571.471. [2021 c.216 § 17]

See note under 571.400.