Open AccessReflections on Commercializing University Research
Author(s) -
Derek Hum
Publication year - 2000
Publication title -
canadian journal of higher education
Language(s) - English
Resource type - Journals
eISSN - 2293-6602
pISSN - 0316-1218
DOI - 10.47678/cjhe.v30i3.183371
Subject(s) - commercialization , intellectual property , incentive , enforcement , business , private sector , exploit , public relations , higher education , accounting , marketing , economics , political science , economic growth , computer security , computer science , law , microeconomics
Universities require resources to support research, and often seek funds from the private sector. Given the rising trend towards partnerships with the corporate sector, what is the best strategy for universities to adopt to commercialize intellectual property? This paper sketches the extent of commercialization of research in Canadian universities, explains why copyright enforcement is difficult, and discusses the benefits and disadvantages of licensing an innovation versus creating a spin- off company to exploit university discoveries. Because the university and the corporate sector have different objectives, two important questions are: how to structure an incentive compatible "contractual arrangement" to accommodate both parties, and how to share the benefits of university discoveries.