Ohio University joins Ohio IP Promise to boost investment, entrepreneurship

As part of the Ohio IP Promise, a collaboration with the state of Ohio and the state’s public universities, Ohio University has established a best-in-class process for licensing intellectual property and nurturing startup companies.

The goal of the Ohio IP Promise is to foster a climate in which innovation thrives through partnerships among universities, researchers, entrepreneurs, investors and industry. It was established with guiding principles of making such partnerships flexible, transparent, simple, clear, easy and fast. This new approach will ultimately strengthen Ohio’s economy, attract innovative researchers and serve as a magnet for investors and entrepreneurs.

The program, unveiled by Lt. Gov. Jon Husted on Sept. 6, helps ensure that Ohio’s public universities are competitive when it comes to the transfer of university discoveries to the commercial sector.

“The Ohio IP Promise reinforces our ability to ensure that innovations at Ohio University have the best possible opportunity to have a positive influence in the world,” Ohio University President M. Duane Nellis said. “Our faculty, researchers and entrepreneurs are second to none and this program further clears the path for their good work to make a difference.”

OHIO offers options for sponsors who desire different degrees of control over intellectual property developed during a sponsored research engagement – traditional intellectual property terms, risk-managed terms or industry intellectual property ownership.

In addition, the university has published clear and simple guidelines, templates and other information about the licensing process, featured prominently on the Technology Transfer Office website, www.ohio.edu/research/tto.

The overall process is intended to help stimulate new sponsored research agreements with industry, offer flexibility in licensing agreements and foster the creation of startup companies.

“The research conducted at Ohio University is world-class, and we’re excited to be part of the Ohio IP Promise to help ensure our discoveries realize their full potential for benefiting the public,” Vice President for Research and Creative Activity Joseph Shields said.

Ohio University has a long history of supporting economic development in the region and establishing partnerships to help businesses partner with the university to fulfill workforce development or research needs. The Technology Transfer Office was established in 1991 to identify, protect and commercialize Ohio University intellectual property. It negotiates and executes IP-related agreements and assists in the formation of startup businesses. The office is a past recipient of the Deshpande Symposium’s Exemplary Practice in Technology Commercialization Award.