On May 25, 2006 the Board of Regents issued a new Texas A&M University System Intellectual Property Commercialization and Management Policy. The purpose for changing and consolidating the pre-existing System Policies 17.01 and 17.02 into a new System Policy 17.01 entitled Intellectual Property Management and Commercialization , is to 1) respond to the establishment of Texas A&M Technology Commercialization by the Board of Regents in December, 2005, 2) clarify the role and responsibility of Texas A&M Technology Commercialization at the System level, and 3) simplify and restructure System policy as it relates to ownership, management and commercialization of intellectual property.
Who was involved in creating the Intellectual Property Commercialization and Management Policy?
The effort to create the new policy was led by the Chancellor and Texas A&M Technology Commercialization and involved the Vice Chancellor for Technology Commercialization, CEOs from each System member, the Council of Principal Investigators, the Texas A&M University Research Counsel, the Vice President for Research and many individual researchers from across the A&M System who are actively involved in technology commercialization.
What are the Objectives of the new Policy?
The Texas A&M University System (System) is committed to teaching, research and public service. Research is one of the most important and rewarding aspects of the educational process, regularly leading to the development of new ideas, discoveries and technologies with the potential to benefit the public at large. It was, therefore, determined that a new intellectual property policy be written to better assure that the new ideas, discoveries and technologies arising from research conducted as a part of the educational process be used to the best interest of the System's constituents and the public it serves.
The new policy is based on three fundamental principles: enhancing academic freedom, providing a clear pathway for pursuing technology commercialization, and protecting all interested parties. To that end, the specific objectives of this policy are to:
- Ensure that the commercial development of research results enhances the System's education, research and public service missions.
- Protect the academic freedom of faculty with respect to the publication of their research findings.
- Foster an entrepreneurial environment, through incentives and protections, that encourages the creation, discovery, development, and rapid transfer of new knowledge for the public benefit.
- Educate and assist faculty, staff and others in the use of the patent system with respect to their discoveries and inventions.
- Establish the principles for determining and protecting the interests of the System, creator, and sponsor with respect to discoveries and inventions created by faculty, staff and others in a manner that is equitable to all parties.