Commercialising University Research: Threats and Opportunities--The Oxford Model

This paper describes the strategies and tactics that Oxford University has developed over a ten-year period to address the conflicting demands of the traditional university responsibilities of teaching and research, with the so-called third stream needs of more direct economic development.The approach has been based on a clear policy definition of the ownership of Intellectual Property Rights, and the allocation of university resources to encourage, and support researchers in protecting and commercialising inventions.The result has been a marked increase in disclosures and successful commercial development, through licences, consultancy and spinout companies, generating returns to the researchers, university and regional economy. The increasing tide of publications reporting threats to academic freedom from commercialisation and the generation of liabilities and any number of other dangers to universities, have led us to investigate the possibility of balancing the apparently conflicting objectives of maintaining a vibrant, curiosity-led research university whilst at the same time increasing its contribution to local, and national, economic development.