Intellectural Property rights changing at Univ of Minnesota and Penn State

Pennsylvania State University and the University of Minnesota recently announced major changes in their approach to intellectual property rights related to their research mission. PSU announced that "Effective Friday (Dec. 16), intellectual property that results from industry-sponsored research no longer is mandated to be owned by the University." Hank Foley, vice president for Research, said "In short we are doing it because we consider the net present value of the interactions and relationships that our faculty and students have with industrial professionals to be very important and therefore greater than the apparent future value of the proceeds from such intellectual property." http://live.psu.edu/story/56887