By Geoffrey White
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. In the near term, Penn State faculty and researchers handling non-governmental funded research will need to educate themselves regarding intellectual property protection and entrepreneurship to ensure they can protect their interests in research. Companies funding research or seeking to employ research developed at the University will need to understand the University's new approach.
McNees Wallace & Nurick attorneys, including those in our State College office, are available to help these companies and the University community in intellectual property and entrepreneurial issues. For more information or to receive further updates about this new initiative, please contact any McNees Wallace & Nurick attorney in the firm's State College office or any of our other offices.
To learn more about our Patent Attorneys serving the State College market click on the attorneys below: Geoffrey White and Shawn Leppo To learn more about our Business Attorneys serving the State College market click on the attorneys below: John Baker, Michael Hund, Louis Dejoie, and Corey Reeder
© 2011 McNees Wallace & Nurick LLC INTELLECTUAL PROPERTY NEWS is presented with the understanding that the publisher does not render specific legal, accounting or other professional service to the reader. Due to the rapidly changing nature of the law, information contained in this publication may become outdated. Anyone using this material must always research original sources of authority and update this information to ensure accuracy and applicability to specific legal matters. In no event will the authors, the reviewers or the publisher be liable for any damage, whether direct, indirect or consequential, claimed to result from the use of this material.
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