According to the New York Times, the founder of the Bose Corporation, a privately held company that makes high-end audio products, has donated the majority of the company to the Massachusetts Institute of Technology, the university said Friday. But Amar G. Bose, who received his bachelor’s, master’s and doctoral degrees from M.I.T. and was a professor there from 1956 to 2001, placed some unusual restrictions on the Bose shares he donated to the university. While the shares give the university majority ownership, they are nonvoting and thus confer no control over the company and its operations. Nor can M.I.T. sell...

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About the Author:

Denny Carter

Dennis has covered higher education technology since April 2008, having interviewed some of the most recognized IT pros in U.S. colleges and universities. He is always updating eCampus News with the latest in pressing ed-tech issues, such as the growing i