Education
Technology Transfer / Patent Royalty Revenue
Recording royalty income from a patent licensed to a private corporation.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Receivable | Asset (+) | 5,000.00 | - |
| Intellectual Property Revenue | Revenue (+) | - | 5,000.00 |
💡 Accountant's Note
Universities with research labs earn 'Tech Transfer' revenue when their inventions are commercialized. A portion is often shared with the inventing professor.
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