Although economic growth stagnated in 2009, a new survey says scientific research from about 150 universities created 555 startup companies and resulted in over 4,500 patent optioning and licensing deals last year, earning $1.8 billion in payouts for the institutions in the process. The numbers continue a decade-long trend of the increased role of universities in generating commercial products for businesses.
"Technology transfer" -- as the process of universities commercializing their findings is known -- allows businesses to turn the fruits of academic research into new technologies, such as new drugs and energy-saving products. In return, universities collect licensing fees or royalties, or a partial ownership stake in a product. Universities also typically have a small staff dedicated to brokering deals on hand -- not an insignificant source of employment itself.
To read the full, original article click on this link: News: Universities Gain from Licensing Activity - Inside Higher Ed
Author: This email address is being protected from spambots. You need JavaScript enabled to view it.
