Utah Code 53B-16-301. Definitions

As used in this part:

(1)

“Person” means:

Terms Used In Utah Code 53B-16-301

Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Person: means :

(a)

a federal, state, or local governmental entity:

(i)	that sponsors sponsored research; or

(ii)	participates in a technology transfer;

(b)	an individual;

(c)	a nonprofit or profit corporation;

(d)	a partnership;

(e)	a sole proprietorship; or

(f)

other type of business organization. See Utah Code 53B-16-301

Public institution of higher education: means an institution within the state system of higher education defined in Section 53B-1-102. See Utah Code 53B-16-301

Sponsored research: refers to research, training, and other sponsored activities as defined by the federal Executive Office of the President, Office of Management and Budget:

(a)	conducted by a public institution of higher education through an office responsible for sponsored projects or programs; and

(b)

funded or otherwise supported by an external person that is not created or controlled by the public institution of higher education. See Utah Code 53B-16-301

State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5

Technology transfer: refers to transferring information, commercializing research, or providing technical assistance between a public institution of higher education and external persons for the purpose of economic development. See Utah Code 53B-16-301

(a)

a federal, state, or local governmental entity:

(i)	that sponsors sponsored research; or

(ii)	participates in a technology transfer;

(b)	an individual;

(c)	a nonprofit or profit corporation;

(d)	a partnership;

(e)	a sole proprietorship; or

(f)	other type of business organization.

(2)	“Public institution of higher education” means an institution within the state system of higher education defined in Section 53B-1-102.

(3)	“Restricted record” means a record that is restricted as provided by Section 53B-16-303.

(4)

“Sponsored research” refers to research, training, and other sponsored activities as defined by the federal Executive Office of the President, Office of Management and Budget:

(a)	conducted by a public institution of higher education through an office responsible for sponsored projects or programs; and

(b)	funded or otherwise supported by an external person that is not created or controlled by the public institution of higher education.

(5)	“Technology transfer” refers to transferring information, commercializing research, or providing technical assistance between a public institution of higher education and external persons for the purpose of economic development.

Amended by Chapter 201, 2005 General Session

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