US-based Pennsylvania State University, University of Minnesota and University of Minnesota have changed its intellectual property (IP) rules to potentially allow corporations that sponsor research at the academic institutions to keep the rights.
US-based Pennsylvania State University, University of Minnesota and University of Minnesota have changed its intellectual property (IP) rules to potentially allow corporations that sponsor research at the academic institutions to keep the rights.
Previously, the Penn State university owned the intellectual rights and controlled the use of technology that came from faculty research but in the future negotiations about ownership will take place with consultation from the involved faculty, according to news provider Centre Daily.com.
The IP rules don’t apply to government-sponsored research. Penn State had $785.3m worth of sponsored research in its 2009-10 academic year, according to the Fiscal Year 2010 US Licensing Activity Survey, which was released last month by the Association of University Technology Managers.
The University of Minnesota has also changed its rules to allow companies sponsoring research to prepay a fee of 10% of the contract, or $15,000, whichever is highest. And, if sales from…
