OWNERSHIP OF ASSETS
All assets, both real and personal, of scientific or technical equipment owned by the Society, including those developed by it as Society projects, shall be the property of the Society with the Executive Council as Trustees.
Copyrights and patents which are owned by this Society shall be owned in the name of the Society with the Executive Council as Trustees.
For the encouragement of scientific and technical knowledge in the subject of reaction propulsion or related fields, the Society guarantees to the individuals who develop them, their own exclusive ownership of the inventions, developments, knowledge and techniques acquired in work done in connection with Society activities except as indicated in Section 4 below.
Notwithstanding any provision herewith to the contrary those projects or activities which are especially designated in advance by the Society as its own projects, or any development or activity by any member of this Society which uses property of the Society, or which uses Society funds which may be made available for that purpose, shall be the property of the Society and the Society shall have, in perpetuity, right to use or manufacture the same for the Society’s own benefit, but not for profit, except that the right to continue to manufacture or develop a product or activity begun with Society property or funds shall, after the completion of the first complete item, unit or products other than the first of such produced, which shall be vested in the Society, be guaranteed to the individual who invented or developed the same and providing that in this section the words “or individuals” shall be understood to follow immediately after all references to the word “individual.”
The Executive Council shall specifically have power to contract for the development and/or production of such activities, items, units or projects, owned or retained by itself, as in its opinion, may be better carried on by persons, agencies or organizations other than the Society itself.