Careers360 World-class universities: What can India learn? | Page 17

World class university Patents Intellectual property: The pros and cons From the late eighties onwards global universities have been on a patenting spree. We discuss the pros and cons of the initiative by Team Careers360 U niversities as contributor to innovation, performance and economic growth has long been recognized if one were to look at the literature from academics like Richard Nelson, Nathan Rosenberg, David Mowery and Edwin Mansfield. Academic research output in the form of novel products and services from universities are increasingly seen to show significant spill-over effects, which stimulate industrial growth. The key to successful innovations (transforming ideas to commercial usage) are linked to intellectual property rights (IPR) of which patents, copyrights, designs et al are the most talked about. A broad patent right is argued to maximize the ability of the patent owner to coordinate further development. Patents and other forms of IPR associated to universities is definitely a strong indicator of its research potential and academic prowess. New knowledge creation is one aspect which traditionally is known through publications in journals of repute. But transferring this knowledge from the academia is another critical area which many world class universities are keen on strengthening. Building an ecosystem within the university is crucial and this comprises an IPR cell, a technology transfer or licensing office and an incubation unit alongside the necessary support system. According to Association of University Technology Managers data (2011), over 7,000 new start-ups have emerged from US universities with licenses to university patents – especially after the passage of the Bayh-Dole Act in 1980, which confirmed that universities retain title to patents arising from federallyfunded research. University of California system with ten campuses has the largest pool of granted patents at the US Patent and Trademark Office. Isis Innovation Ltd, the University of Oxford’s wholly owned technology transfer company, files on average, one patent 48 Careers 360 January 2014 Columbia university has been granted over 1,250 patents, showing its focus on research output application each week and manages over 400 patent application families. India Out of the 700+ Indian universities, very few, including the IITs are engaged in knowledge creation and transfer. Some others who are known for their