Page 6 - OGC Annual Report 2021

University of Minnesota Office of the General Counsel
“OGC has been a valued and innovative partner with University Finance in a number of priority areas, includ- ing the PEAK Initiative, Educational Broadcast System license valua- tions, Huntington Bank negotiations, BioMADE, and the recent suc- cessful debt refinanc- ing transaction. The lawyers who have been part of those activities have provided valu- able legal advice and thoughtful counsel on strategy. I look forward to working closely with them on these and other priority activities in the future.”
– Michael Volna
Associate Vice President of Finance & Assistant CFO
Select Highlights (Continued) Transactional Law Services Group
The OGC transactional attorneys serve as a key resource to the University, providing legal advice
on all manner of complex business transactions throughout the year. OGC assisted the University on over seventeen hundred contracts and transactional matters during the fiscal year. These matters included a variety of procurements and contracts including high value complicated construction and goods/services agreements and transactions, as well as industry collaborations, sponsored research agreements and consortium/association agreements. OGC work also includes complex real estate transactions, advising on patent, copyright and trademark issues regarding commercialization and ownership of technology, research, and advising on patent and copyright disputes. Beyond business transactions, OGC transactional attorneys offer training to departments, assist and advise on bond issuance and related due diligence, advise on international programs, and assist and advise on COVID related contract issues.
Huntington Bank
In December of 2020, TCF Bank notified the University that it would merge with Huntington Bank. After the July 2021 merger, the surviving entity would be Huntington Bank, and TCF Bank would no longer exist as a business entity. At that time, TCF Bank held the naming rights
to the University’s football stadium, and had an exclusive banking relationship with the University. As a result of the merger, OGC coordinated with the Athletic Department, University Relations, Real Estate, Auxiliary Services, and Finance to amend the University’s Naming Agreement
to change the name of the stadium to Huntington Bank Stadium, negotiate new stadium logos, and negotiate the banking agreements to reflect the current relationship and new terms.
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OGC advised on:
800+
AGREEMENTS TO PURCHASE GOODS AND SERVICES
313
AGREEMENTS TO SELL GOODS OR SERVICES
361
HEALTH SCIENCES AFFILIATION
AGREEMENTS
200
SOFTWARE LICENSE AGREEMENTS