In a first for higher education institutions, Pennsylvania State University holds an auction of its intellectual property.
Pennsylvania State, a US-based public research university, is taking a new approach to licensing patents developed by its staff and students. It’s believed to be the first university to hold an auction of intellectual property developed by its own staff.
The idea was put together by Ron Huss and Don Mothersbaugh from the university’s Research and Tech Transfer office, who realised that two-thirds of patents were not being licensed. Although other institutions had already tried auctioning off patents, Penn State…
