UC-inspired approach to intellectual property rolled out statewide

Lt. Gov. Jon Husted announced Friday the launch of the Ohio IP Promise, establishing a statewide, best-in-class process for how universities cultivate the licensing of intellectual property developed by Ohio’s public universities. The initiative aims to strengthen the state’s economy, attract innovative researchers and serve as a magnet for investors and entrepreneurs. 

All 14 of Ohio’s public universities will adopt and implement the Ohio IP Promise, which requires universities to: 

• Provide industry choices for accessing intellectual property developed through sponsored research;

• Publish template sponsored research and license agreements;

• Deliver fair and streamlined guidelines and frameworks for faculty creator startups;

• Communicate licensing processes on websites in a clear, prominent way;

• Provide well-defined university entry points for industry, investors, and entrepreneurs;

• Reduce impediments that hinder the pace of transactions.

UC is already compliant with the Ohio IP Promise, as many of its requirements were inspired by UC’s approach to IP. 

“The steps taken by Lt. Gov. Husted today make true for Ohio what our approach toward intellectual property has done for Cincinnati — make the state a place where industry and academia work together for the benefit of all," said UC President Neville G. Pinto. "Talent has choices, and what we've done has signaled to current and future faculty, investors, and the broader business community that our city — and now our state — is the place to be to gain access to opportunities, talent and resources."

Featured image: A graduation day for UC Venture Lab, the Office of Innovation's pre-accelerator program for UC faculty, staff, students and alumni. Photo/Joseph Fuqua II/UC Creative Services