Letter from CGS to the CIRM Independent Citizens Oversight Committee
By Jesse Reynolds and Marcy Darnovsky
| 09. 08. 2005
To the Independent Citizens' Oversight Committee of the California
Institute for Regenerative Medicine:
We are writing to register our concerns about the intellectual
property (IP) policy framework for state-funded stem cell research
proposed by a special committee formed by the California Council
on Science and Technology (CCST). The issue of intellectual
property is one of the most critical issues facing the CIRM.
At stake is who will own, profit from, and benefit from any
discoveries made using taxpayer funds managed by CIRM.
A detailed IP policy must be in place not only before any grants
are issued, but also before any bonds are put on the market.
Some observers, including the state bond counsel, have interpreted
federal tax law to mean that taxable, rather than tax-exempt
bonds, will be necessary if the state receives a portion of
royalties from any profitable discoveries - as promised by the
Proposition 71 campaign and indicated in its text. Thus, issuing
bonds with a pre-determined tax status before clarifying CIRM's
IP policy would be premature, and likely to preempt a full discussion
of possible...
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