Government recognises importance of university IP

Universities have been offered new guidance on how to develop and manage their intellectual assets by the Intellectual Property Office (IPO).

Called ‘Intellectual Asset Management for Universities’, the new guide provides advice and information to universities to help them understand how they can best use their institution’s intellectual property (IP).

“This can be an invention, trade mark, original design or the application of a good idea,” said the IPO.

Income generated through the commercial use of intellectual property rights can be worth millions of pounds. In 2009/10 £84 million was generated directly from IP at universities.

“The guide will help universities maximise the benefits of their intellectual assets, which in turn will support the economic growth of the UK,” said Minister for Intellectual Property Baroness Wilcox.

“It is now more important than ever for university leaders to think strategically about how to best to protect and effectively use their intellectual assets,” said the Minister.

One example of an institution which demonstrates how effective policies can underpin the commercialisation of intellectual property is Cardiff University, which has generated around £7m in licence fees and royalties over the last five years through implementing its Innovation and Engagement Strategy.

"The pressure was always on knowledge transfer offices to deliver but now, in the current economic climate, that pressure has really increased,” said Dr Philip Graham, executive director for the Association for University Research and Industry Links.

The booklet has been produced thanks to contributions from a number of partners including Research Councils UK (RCUK), the Higher Education Funding Council for England (HEFCE), Universities UK (UUK), PraxisUnico and AURIL (the Association for University Research and Industry Links).