Differences between contracts and grants
There are some very important differences between grants and contracts. For your convenience, we have listed some key differences below.
- A Grant is financial support for an investigator or investigators conducting research in a particular subject area or field, without any formal detailed stipulation as to the direction of such research.
- A Contract is an agreement between two corporate bodies, namely the company and the university, to provide financial support for an investigator, or investigators, to conduct research in a particular subject area or field under specific stipulations and conditions.
Characteristics of contracts
- Specifically outline the scope and the nature of the research
- Set the time period(s) for the activity
- Define the deliverables
- Establish ownership of intellectual property, patent rights and licensing arrangements
- Provide for confidentiality of information supplied and created
- Establish budget approvals and payment schedules
- Establish considerations for acceptance and/or termination
- Limit liability of participants
Characteristics of grants
- No direct or indirect remuneration to the principal investigator or co-investigators
- Objectives are defined in a general fashion
- No limitations on publication
- No specific transfer of results to the grantor; however a final report stating the results of the research is usually submitted to the grantor
- Payment to the university is generally made in advance of expenditures
For more information about research contracts at Memorial University please contact Craig Perchard, Assistant Director (Contracts), or call the Office of Research at 709-864-8251.
