The PropTech CRC will be a not-for-profit, incorporated company, limited by guarantee. As such, it will operate under the Corporations Act and has adopted the governance principles of the Australian Stock Exchange Corporate Governance Council.
The CRC will establish a skills-based Board of Directors, with an independent Chair and a majority of independent members, as directed by CRC Program guidelines. The Board will provide oversight of CRC activities, performance, and strategic direction. Management of the CRC will be led by a Chief Executive Officer, supported by a small operational and administrative team employed by the CRC. Program Leaders will be appointed to lead Programs, provided as in-kind contributions by CRC partners. A Research Director will be appointed to Chair a Science Advisory Committee to oversee the quality of the CRC’s research. A Commercialisation Manager will be appointed to Chair a Commercialisation Panel to focus and promote commercialisation outcomes from CRC activities.
IP and Commercialisation
The CRC will develop and deliver a portfolio of projects for industry partners. Every project will be governed by a project agreement which consider the following points:
- Intellectual property will be generated and held at the Project level. Project agreements must specify how Project IP will be managed and must contain an initial plan for the intended commercialisation of that IP. This plan will aim to maximise the possibility of utilisation by the industry partners and benefit to Australia.
- Background IP must be documented in the Project Agreement before any project starts. Ownership of Background IP stays with the party that provides it.
- It is expected that the primary path to utilisation for Project IP will be through the industry partner/s in the project.
- Specific details of the ownership and access to IP from a project will be negotiated by the project partners at the beginning of each project.