Creator-owned model: Revised IP policy will drive commercialization and entrepreneurialism
To motivate researchers to pursue commercialization and continue to cultivate an entrepreneurial culture, Memorial has adopted a new creator-owned intellectual property (IP) model.
The Board of Regents recently approved a revision to the university’s IP Policy, first adopted in July 2008.
IP includes research outcomes ranging from literary, artistic and scientific works to industrial designs to scientific discoveries.
“This revision, also endorsed by Senate and Vice-Presidents Council, puts an enhanced emphasis on creator-driven commercialization and the promotion of innovative research here at Memorial,” said Dr. Neil Bose, vice-president (research).
“Moving to a creator-model for IP will allow our faculty, researchers, staff and students to more freely pursue commercialization opportunities, rather than the former model of shared ownership between the creator and Memorial, which was perceived to be more restrictive.”
Dr. Bose says researchers will continue to work with the university’s Technology Transfer and Commercialization Office (TTCO) to support industrial liaison, technology transfer and commercialization activities, including through the mechanism of Invention Disclosures.
The revision was finalized after extensive consultations with stakeholders including Deans Council, Senior Academic and Administrative Group, Research Council, Genesis, unions and key external funding partners, including industry groups and government.
“With this revision, we are ensuring a new generation of creators, inventors and discoverers — those representing the basis of Memorial’s innovation — can flourish with their new ideas, while helping build a vibrant and successful future for our province and beyond,” added Dr. Bose.
A frequently asked questions (FAQ) document related to the revised policy is posted to the TTCO website. The revised policy is available here.