Reflections on Commercializing University Research

Abstract

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.

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