According to a recent report by Keystone Edge, Penn State University has announced a major shift in its policies relating to research projects that are sponsored by private industry. Instead of the typical arrangement where the university retains ownership of intellectual property rights resulting from sponsored research, Penn State will entertain proposals in which the industry sponsor will own all intellectual property rights in the research. The university expects to implement this policy starting in late 2012.
Penn State appears to be the first major research institution to propose such a policy. The university formally considered the proposal in a May 31, 2011 internal memorandum. Penn State’s Vice President of Research Henry (“Hank”) Foley confirmed the new policy in a recent interview with Keystone Edge.