The University of Minnesota plans to forgo its intellectual property rights when partnering with industry on research.
U of M officials say contentious negotiations over who owns the rights to sell technology and products developed during industry-funded research has derailed a number of partnerships.
Changing how it partners with business and industry. the university now proposes that industries that approach with research funding and pay a one-time fee (amounting to 10 percent of their research funding) can in return keep the intellectual property rights to any products or technology that result from the partnership.
University President Eric Kaler said the proposal streamlines working with industries and attracts more research dollars.
"In my own personal experience and that of others at the university, this is going to be a much more effective way to partner with the university," Kaler said.
Under the proposal the university still collects some revenue from technology it develops, but only if a licensed technology makes more than $20 million in annual revenue.
"What this program does will give companies sponsoring research at the university an exclusive worldwide license without the need to have protracted negotiations and hassles that have disrupted these relationships in the past," said Tim Mulcahy, U of M vice president of research.