Each day, universities conduct and invest in research that has an impact on science, medical, and technology industries. And while schools of higher education serve a larger purpose, patenting those research results and licensing those patents to industries can generate much-needed funds that benefit those universities.
Patents are assets, even if they are not immediately used. As such, campus assets borne from technology created by colleges and universities usually can be licensed, sometimes later in their useful lifetimes. Dormant patents represent potential revenue sources for colleges and universities who find that those patents are infringed upon.
A growing number of universities are hiring technology transfer managers who are responsible for generating revenue by licensing out university patents to industry.…Read More