Word: brinton
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According to Joyce Brinton, director of the Office for Technology and Trademark Licensing, offers of equity instead of cash for licenses are only made to the University about five times each year...
...additional 15 percent goes into a fund administered by the President's office. The fund is used to "support technology transfer teachniques, or scientific research, or developing innovative teaching methods," according to Brinton...
...Universities across the country are involved in licensing programs like this and are larger or smaller, depending on the type of research," Brinton says. "Stanford has two licenses which bring in over $15 million each," including a patented technique for gene splicing which is used by molecular biologists across the country...
Harvard's OTTL not only oversees the patent creation process, which can take anywhere from two to seven years, but stays in close contact with the companies which hold the patent licenses, Brinton says...
...OTTL follows the company's use of the technique or product, and makes sure the royalties the company is paying are correct, according to Brinton...