Authorized Activities

Notwithstanding any other provision of law, rule, or regulation, the RCUOG is authorized to conduct the following activities:

(a)to create, adopt, amend, and repeal by-laws governing the conduct of its business and the exercise of the powers and performance of duties granted to it or imposed upon it by law;

(b)to enter into and perform such contracts, leases, cooperative agreements, grants or other transactions on behalf of the University, as may be necessary to facilitate the conduct of the authorized activities described herein;

(c)to buy, sell, lease, rent, hold, maintain, use, and operate any property, real, personal, or mixed, tangible or intangible, in accordance with the conditions under which it was received and under the purposes of the RCUOG;

(d)to submit each year for the approval of the Board of Directors an annual budget; such budget will include projected income, including COL292017 CH. 29 RESEARCH CORPORATION OF THE UNIVERSITY OF GUAM indirect/facilities and administrative revenue, and a cost of operating expenses of the Corporation, as well as the distribution plan of the net proceeds for the University’s use, which shall include a reasonable corporate reserve; the allocation of indirect/facilities and administrative cost will be determined by the Board of Directors, and follow UOGBOR Resolution 08-40;

(e)to receive through University policies and procedures, by gifts, grants, devises, bequests, or otherwise from private or public sources, any property, real, personal, or mixed, intangible or tangible, absolutely or in trust, to be used and disposed of, either the principal or the income there from, in accordance with the conditions under which it was received; except, that no gift to the Corporation shall be accepted unless approved or confirmed by the RCUOG Board of Directors;

(f)to facilitate multi-year contracts;

(g)to have a corporate seal;

(h)to sue and to be sued in its own name and to indemnify the University against losses incurred specific to that activity;

(i)to serve as trustee or beneficiary under terms of any gift, indenture, or will;

(j)to apply for, take out, receive by purchase or gift, hold, administer, and dispose of copyrights, patent rights, licenses, assignments of inventions, discoveries, processes, and other property, rights or interests therein, the income thereof, absolutely or subject to such conditions or trusts as may be attached thereto or be imposed thereon, and to obligate itself to perform and execute any and all such conditions or trusts in coordination with UOG’s Intellectual Property Policy;

(k)to conduct research, studies, experiments, investigations, and tests in all fields of knowledge; to promote and develop the scientific and commercial value of inventions, discoveries, and processes; and to make published, and distribute the results thereof;

(l)to do any and all other acts reasonably necessary to carry out the objectives and purposes of the Corporation and the University, as approved by the University and the RCUOG Board of Directors;

(m)to coordinate and correlate activities and projects of the Corporation with the work of government of Guam agencies for the COL292017 CH. 29 RESEARCH CORPORATION OF THE UNIVERSITY OF GUAM purpose of relating research work to the economic development of Guam whenever practical or desirable;

(n)to stimulate and promote cooperative research projects and activities;

(o)to establish and maintain, or to assist in establishing and maintaining, scholarships, fellowships, and professorships, and other staff positions for the purpose of aiding in the acquisition and dissemination of knowledge; and to enter into agreements or contracts with other corporations, organizations, institutions, or persons for this purpose and to pay the necessary and appropriate expenses therefor;

(p)to prepare, print, or publish any manuscript, research article, report, study, discussion, reference, collection, or any pictorial or schematic representation or group or collection thereof, whether it belongs to or is the work of any government of Guam agency or its employees, or the University or one of its faculty members or employees, or the Corporation or its employees, or a contractor of RCUOG. The printing or publication may be accomplished through whatever person, company, or agency is deemed most appropriate by the Board of Directors.