P.R. Laws tit. 3, § 689
Should the Committee resolve that the invention or discovery merits participation in the Patent Promotion Program, then it shall determine that the Puerto Rico Industrial Development Company shall defray all expenses necessary to try to obtain a patent for the invention for up to the maximum permitted by law, including any steps taken in favor of the invention or discovery in question; it being understood that the inventor or discoverer shall have to defray the costs in excess of said maximum permitted by law.
The inventor or discoverer shall reimburse to the Puerto Rico Industrial Development Company 25% of all royalties or other revenues derived from the use or other disposition of the patent, until he/she has settled his/her debt with the Puerto Rico Industrial Development Company; Provided, further, That the inventor may reimburse to the Puerto Rico Industrial Development Company the total expenses incurred during any stage in the process for obtaining the patent, should the inventor decide to do so.
Until the Puerto Rico Industrial Development Company has recovered all expenses incurred for obtaining the patent through a reimbursement by the inventor, during any stage in the process for obtaining the patent, or recovered from royalties or other revenues, the Puerto Rico Industrial Development Company shall have a lien on the invention or discovery and on any application or patent describing or claiming the invention.
No sale, assignment or license of the invention or discovery shall be valid without the written consent of the Committee until the Puerto Rico Industrial Development Company has recovered all expenses incurred for obtaining said patent.
The inventor shall subscribe a promissory note for the amount of the expenses the Puerto Rico Industrial Development Company has incurred for obtaining the patent. Said contract shall be executed using the form provided for such purpose by the Industrial Development Company, which shall be suitable for registration with the Patent Office in Washington, D.C.
History —Mar. 20, 1951, No. 35, p. 84, § 5; Jan. 24, 1968, No. 1-A, p. 3, § 5; July 23, 1974, No. 163, Part. 1, p. 745, § 5; June 4, 1982, No. 48, p. 98, § 2; Sept. 22, 2004, No. 436, § 4.