(Juneau) - In a few months the University of Alaska will have a new and valuable recruiting and retention tool. House Bill 282 sponsored by Representative Hugh Fate (R-Fairbanks) unanimously passed the State Senate Thursday, its final stop before the Governor's desk.

The bill allows the university President to negotiate with researchers and faculty members on intellectual property rights. The resulting agreements mean both the researcher and the university can work together to bring research into a practical application with both sides benefiting. These agreements could also allow for joint ventures between the university, faculty members and private industry.

"During a recent survey, of 198 institutions involved in intellectual property agreements, there were 13,569 invention disclosures resulting in more than 4,000 commercialized agreements 1," said Fate. "I want to see our university join in that process. Our campuses are already ahead of other schools in specialized areas of research and HB 282 gives an added incentive for the researchers to conclude their work in Alaska and potentially create a new industry here that will benefit local economies."

In 2001, more than 3,800 new companies were formed as a result of intellectual property with 84 percent of those in the state or province of the academic institution. Representative Fate says, "I believe this bill will add to those numbers and will potentially bring additional funds to our campuses."

¹ Research Information from the Association of University Technology Managers. (www.autm.net)

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