I would call this the “don’t be a dick” clause
In the event of commercial exploitation of a scholarly work, all intellectual contributors to that work should be entitled to share in the proceeds in proportion to their contributions, unless the entitlement to share has been willingly waived through informed consent. A share in the proceeds could also be granted to other parties such as the University or financial sponsors, at the discretion of the intellectual contributors.
According to this article university of Waterloo led to $1.16B of GDP in 2017
Canada needs a national overhaul of university IP policies | University Affairs
thus, if the scientist-entrepreneur chooses not to involve the Waterloo TTO, the university owns none of the rights. In cases where the scientist-entrepreneur chooses to work with TTO, a five percent equity stake in the start-up is assigned to U of Waterloo (this equity stake is non-dilutive up to $2 million in value and dilutive above that).