The technology transfer grantee shall not incur expenses to be paid with grant funds without evidence of a workable agreement between the parties participating in the project that includes at least both of the following:
(a) A resolution of the intellectual property rights relative to the project.
(b) A direct and ongoing involvement of the public and private sectors, when applicable in the project.
(Added by renumbering Section 13994.4 by Stats. 2015, Ch. 303, Sec. 200. (AB 731) Effective January 1, 2016.)