Intellectual Property News -- IP Rights with Penn State Take a Left Turn

more+
less-

According to several recent publications, beginning in the fall of 2012, Penn State University will no longer mandate Penn State's ownership of intellectual property associated with industry-funded research. This change in policy and practice does not cover government-funded research. The initiative creates an opportunity for companies that work with Penn State faculty and researchers to secure intellectual property rights from the University. Also, this permits Penn State faculty and researchers to be more entrepreneurial in their efforts to solicit industry funding.

The change contrasts the policy of several other research institutions where universities own and derive revenues from intellectual property. It is expected to strengthen the relationship between the University community and industry, and reduce University expenditures related to intellectual property. The change emphasizes the educational focus of the institution and decreases the focus on licensing revenue opportunities. The initiative clearly will have substantial impact on relationships between companies, professors and researchers, and the University.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Business Organization Updates, Education Updates, Finance & Banking Updates, Intellectual Property Updates, Science, Computers & Technology Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© McNees Wallace & Nurick LLC | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »