The Intellectual Property (Staff) policy, Intellectual Property (Students) policy and Intellectual Property procedure were amended as a suite. The amendments incorporate four principals: 1. Move away from policies designed around Patent protection for lab-based research to a more contemporary view of the Intellectual Property assets within the University and how they can be better leveraged to the benefit of the University, its staff and its students. 2. Deakin Research Commercial is named in the policies and procedure as the area responsible for commercialisation of Deakin’s IP and the Deputy Vice-Chancellor Research’s role as statutory position of Intellectual Property Officer is clarified, including adjudication of any dispute resolution process. 3. Move from the current 50/50 split of net commercialisation revenues between the University and Inventors to the consensus approach of most Universities that sees a one third split between the Inventors, the University and the relevant Faculty/Institute as a way to better incentivise further translational research. 4. Where the commercialisation strategy involves a spin-out, the amendments provide an option within the Policy for an inventors rights over commercial revenue to be exchanged for equity in the new business. This has the dual benefit of aligning incentives and simplifying the administration of the Policy.