Why write a check when you can donate a patent or three?
3M Co. took a creative tack with a recent gift to the University of Minnesota Law School by donating three royalty-bearing patents. The patents, which cover optical lenses and prism technology, have an estimated value of $760,000 and are expected to generate $2 million during the next five years.
The law school will share the gift with the university's Office for Technology Commercialization, which helps start-up companies applying the university's research and manages the intellectual property aspect of that research.
The law school plans to use its share of the proceeds to start a 3M Fund for Law, Science and Technology, which will bolster technology teaching and research.
To read the full, original article click on this link: 3M donates patents to Univ. of Minnesota Law School
Author: Karen Sloan
