Academic innovation is a pillar of national economic growth, but the commercialization rights associated with inventions derived in campus laboratories have not always trickled down to the students themselves. Purdue University recently decided to remedy this situation, reinterpreting its own policies to afford students a simpler and more equitable path to patent ownership and monetization.
University code formerly stated that any invention created with the use of school resources was subject to university ownership. Purdue policy has now been amended to extend IP rights to students directly - provided their inventions were derived from resources available to all students in a given course and not sponsored or supported by corporate or government grants.
"We're out to foster a culture of entrepreneurship that extends from the the newest freshman on campus to the most senior faculty member," said school president Mitch Daniels. "If you have a great idea, Purdue is the place to develop what's in your mind and take it to the market."
According to The Journal & Courier, Daniels hopes to establish a precedent that echoes throughout the academic community. At the very least, it has already encouraged several Purdue students to pursue market strategies for their mobile software applications, biomedical devices and more.