{"data":{"id":"us-ar/ark.-code-ann.-15-4-1402","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 15-4-1402","heading":"Definitions","body":"As used in this subchapter:\n\n(1) \"Center\" means the Center for Prototype Development and Emerging Technologies to be developed and operated by the University of Arkansas at Little Rock;\n\n(2) \"Commercial state\" means the point at which a product has been developed beyond the theoretical and prototype stage and is capable of being manufactured or practiced commercially;\n\n(3) \"Gross sales revenues\" means all revenues or anything of value received by any person from the sale of a proprietary product;\n\n(4) \"Intellectual property\" means patents, copyrights, or trademarks acquired pursuant to federal or state law or applications for patent or for copyright or trademark registration;\n\n(5) \"Inventor\" means any person who conceives a new concept which may result in a proprietary product;\n\n(6) \"Person\" means any individual, sole proprietor, partnership, or corporation;\n\n(7) \"Product\" means any device, technique, process, item of manufacture, composition of matter, or work of authorship;\n\n(8) \"Product development plan\" means a plan prepared by the center for developing a product to the commercial state;\n\n(9) \"Proposal\" means a plan provided by the inventor which includes technical and descriptive information on a product;\n\n(10) \"Proprietary product\" means a product patented, copyrighted, or trademarked pursuant to federal or state law or for which an application for patent or for copyright or trademark registration is pending; and\n\n(11) \"Royalties\" means all things of value received by an inventor in connection with the licensing of a proprietary product or the assignment, sale, or licensing of intellectual property.","path":["AR Code","Title 15","Chapter 4","Subchapter 14"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"153839fd4b3ad4ec13ae1573e7e859b760a2e991f1c7dbcbea43b4980a5baff8","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-15-4-1401","next":"us-ar/ark.-code-ann.-15-4-1403"},"notice":"GroundRules: Original legal text. Not legal advice."}