(2009-01-06) University Ownership Intellectual Property

Colleges and universities own the ideas and technologies invented by the people who work for them, including professors and graduate students who are paid to do research. Most universities also own inventions created by students using a significant amount of their resources, even if the inventors are undergraduates... Colleges and universities obtained fewer than 250 patents a year before 1980, when the Bayh Dole Act gave them ownership of inventions developed through federally financed research (why isn't that Public Domain?) ... A third to half of the money generated by a product is typically assigned to the student, with the rest split between the student's department and the university. (Intellectual Property)