USC has joined a coalition of leading research universities that aims to boost the transfer of researchers’ patented technologies and inventions to companies, it was announced Wednesday.
The University Technology Licensing Program also consists of Brown, Caltech, Columbia, Cornell, Harvard, Illinois, Michigan, Northwestern, Penn, Princeton, SUNY Binghamton, UC Berkeley, UCLA and Yale.
The limited liability corporation will provide a new marketplace that bundles licensable technologies from multiple institutions making it easier for companies to acquire them to expand their portfolio of products.
“A technology transfer that connects USC and other leading research universities to industry is critical to solving some of society’s biggest challenges, growing the economy and adding jobs, and securing U.S. technological advantage in competitive global markets,” said Jennifer Dyer, executive director for the USC Stevens Center for Innovation.
The Stevens Center manages intellectual property matters, including patent applications and licenses, for scientists and engineers across USC. Previous university developments in the physical sciences have generated important patented inventions that have improved lives and enabled new products. The University Technology Licensing Program paves the way for continued innovation in the industrial arena, Dyer said.
The universities involved in the program were pleased to have received a favorable business review letter from the U.S. Department of Justice for their new endeavor, Dyer said.
“UTLP is a creative solution to meet a long-felt need for universities and private sector actors,” said David Kappos, a former undersecretary of commerce for intellectual property and director of the Patent and Trademark Office.
“It will make the licensing of technologies much easier and more convenient, to the benefit of all participants.”