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and objectives of the Budget and Scope of Work-Attachment A-and all other applicable laws and regulations. 13. INTELLECTUAL PROPERTY A. Except as provided below, intellectual property rights to all property created or otherwise developed under or in connection with the performance of this Agreement are hereby reserved to and shall be owned by the State of Florida. B. If the Sub-Recipient has pre-existing intellectual property rights, then the Sub- Recipient shall retain all rights and entitlements to that pre-existing intellectual property unless the Agreement provides otherwise. C. If any intellectual property is developed in the course of or as a result of work or services performed under this Agreement, or in any way connected with it,the Sub-Recipient shall refer the intellectual property to the Division for a determination whether the State of Florida will seek patent, copyright, trademark, or other intellectual property protection in its name. D. Within thirty days of execution of this Agreement,the Sub-Recipient shall disclose all intellectual properties relating to the performance of this Agreement which he or she knows or should know could give rise to a patent, copyright,trademark,or other intellectual property protection. Failure to disclose will indicate that no such property exists. The Division shall then, under Subparagraph A above, have the right to all intellectual property which accrues during performance of the Agreement. E. If the Sub-Recipient qualifies as a state university under Florida law, then, pursuant to section 1004.23, Florida Statutes, any invention conceived exclusively by the employees of the Sub- Recipient shall become the sole property of the Sub-Recipient. In the case of joint inventions, that is inventions made jointly by one or more employees of both parties hereto, each party shall have an equal, undivided interest in and to such joint inventions. The Division shall retain a perpetual, irrevocable,fully- paid, nonexclusive license, for its use and the use of its contractors of any resulting patented, copyrighted or trademarked work products,developed solely by the Sub-Recipient, under this Agreement, for Florida government purposes. 14. AUDITS A. The Sub-Recipient shall comply with the audit requirements contained in 2 C.F.R. Part 200, Subpart F. B. In accounting for the receipt and expenditure of funds under this Agreement, the Sub-Recipient shall follow Generally Accepted Accounting Principles("GAAP"). As defined by 2.C.F.R. §200.49, GAAP"has the meaning specified in accounting standards issued by the Government Accounting Standards Board(GASB)and the Financial Accounting Standards Board (FASB)." C. When conducting an audit of the Sub-Recipient's performance under this Agreement, the Division shall use Generally Accepted Government Auditing Standards("GAGAS"). As defined by 2 C.F.R. §200.50, GAGAS, "also known as the Yellow Book, means generally accepted government 13 P55