Time to Remodel Management of University IP
Time to Remodel Management of University IP
The University of Manitoba has changed its approach to partnering with industry to commercialize intellectual property developed through university research. According to a new collective agreement between the university and its faculty association, all IP generated at the university will now be recognized as jointly owned by the university and the academics responsible for the new IP. Although the existing method of managing university IP through the school's technology transfer office will remain intact, researchers now have the option of a more collaborative approach wherein they are allowed to assign management of the IP to their industry partner. Under this new approach, the industry partner fully assumes responsibility for managing the IP as well as the decisions about and the costs of protecting the IP through its lifetime. The university will be allowed to use the IP for non-commercial research and educational purposes, and the industry partner will be permitted access to copyrightable material for internal use. The new strategy also scraps the old payment method, which involved an initial signing payment paired with annual and milestone payments, in favor of annual royalty payments made by the industry partner.
From the article of the same title. Science Business (05/15/13) Jayas, Digvir