All intellectual property used in business ideas and/or plans must be owned or controlled by the contest entrant. For purposes of the contest, ‘controlled’ is defined as patented, patent-pending or licensed.
The intent in this competition is to stimulate ideas and innovation, it’s NOT to assert ownership rights to intellectual property. Foxconn will not assert ownership rights to intellectual property contained within submissions to the Smart Cities , Smart Futures competition. Ownership and management of intellectual property rights will be treated in accordance with institutional policy and practice, whether that be conveyed to the academic institutions, owned individually, or otherwise. Should Foxconn subsequently elect investment in competition concepts and plans, IP rights and consideration will be addressed at that time.