What are you on about? What ideas? Think before reacting? If you have anything which you think may result into a financial profit make your own company.
Exactly.
Didn't Bill Gates and the likes of the Google duo pull out of their university education, for this reason? To take their ideas away from the Uni and own them 100%, then market them.
Bill Gates:
http://news.softpedia.com/news/Bill...u-I-d-Come-Back-and-Get-My-Degree-56850.shtml
Google duo:
http://en.wikipedia.org/wiki/Sergey_Brin
In any case, 5%...count yourself lucky. Sign whatever they want you to and accept the 5%. That would be my advice. I'm shocked that the Uni even bothered contacting you and are then offering you 5%.
There are many keyboard warriors on here, who would have you spend £1ks on hiring a patent lawyer and to fight some sort of case on your behalf...but unless you are prepared to go "all the way", I wouldn't bother. And before you ask how much it would cost to fight (using a lawyer)?...A lot. If you were going to fight a big organisation, say, you could easily spend a 6 figure sum. Easily.
Even filing a group of patents, through a patent lawyer (with no battle), costs stacks of cash. If you are fighting a patent...then expect to re-mortgage your (or your parents') home, if you have one.
What you could do is speak to a patent lawyer for say 2 hours. Take all documentation with you. He may charge you £100/hour, but at least he will give you some advice. From then on you have a choice - fight all the way OR accept the 5% offer (or perhaps the lawyer will give you a 3rd option).
Ultimately, it depends on how badly you want to fight for your work and whether you believe that you can win the battle, then take your work and make it commercially successful. If you think you can do this, then by all means...fight.
Most academics do not have the acumen to bring a project/idea to market. The google duo and zuckerberg are unique in that they had the "balls" to break away from their university, take the risk and make their idea entirely their own. Most academics wouldn't dare do something like this. You have to ask yourself the question: how big are your balls?
Anyway, what ever you decide...good luck and I wish you all the best.