3M donates royalty-paying patents to U of Minn.
Maplewood-based 3M Corp. has donated some royalty-paying patents to the University of Minnesota's law school and Office for Technology Commercialization.
The university estimates the patents will generate about $2 million over the next five years, which will be divided between the law school and the OTC.
Law School Dean David Wippman says the money will support the new 3M Fund for Law, Science and Technology at the school. The fund will support research and education.
Raymond Eby is a manager in 3M's Corporate Development Group. He says the company believes great legal scholarship and education are critical to developing sound public policy.
The OTC protects and licenses university-developed technologies. It also develops university technologies with start-up potential.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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