Intellectual Property Owners Association

“The membership classes of ipo consists of the following: sustaining membership, regular corporate membership, law firm membership, small business/university membership, service providers membership, and individual membership. Corporations and partnerships are represented by individuals designated in writing by such corporations or partnerships. The board of directors fixes the amount of dues that may be required from each class of member.”

“Intellectual property owners association membership elects the governing body. Of the board of directors, 2/3 of the board must be from sustaining members. In addition, five positions shall be reserved for election from regular membership.”

“Ipo practice is to document all board meetings; executive committee meetings are not always documented in writing, but any business delegated to the executive committee by the board is typically followed by an oral report to the board.”

“An outside accounting firm prepares the form 990. The director of operations and finance reviews the form 990 in full detail with the executive director prior to signing of document. A copy of the form 990 is provided to the governing body before filing with the irs.”

“An interested person shall be obligated to disclose the existence of any actual or possible financial interest involving a transaction (and all material facts relating thereto) to a member of the executive committee or the board of directors in the event that (i) such interested person is aware of any actual or possible financial interest involving a transaction, and (ii) such interested person causes or influences (or intends to cause or influence) the expenditure or utilization of ipo resources with respect to such transaction. After disclosure of the existence of the financial interest and all material facts related thereto, and after any discussion with the interested person, the executive committee of the board of directors, as the case may be, shall discuss such transaction or arrangement and such financial interest outside the presence of the interested person. The interested person shall be required to abstain from any required vote taken with respect to such proposed transaction. An interested person may make a presentation at any meeting of the executive committee or the board of directors, as applicable, but after such presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction involving the possible financial conflict of interest.”

“Compensation is determined based on benchmarking survey data, form 990 of other organizations, and performance evaluations. Ipo's executive committee approves compensation for ipo's executive staff, and ipo's officers approve compensation for other key employees. The process described here was last completed in december 2024.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”