If a University of Michigan student builds a better mouse trap or reinvents the wheel, they can rest assured the university will keep its hands out their pockets.

The U-M Tech Transfer recently released a clarification of its Technology Transfer Policy - Student entrepreneurs are the sole owners of their inventions, even if they work on a project in a University design course, receive guidance from a faculty member, or use specialized University equipment.

"We really want to communicate the fact that we want to encourage innovation and entrepreneurship," says Ken Nisbet, executive director of the U-M Tech Transfer, adding this clarification is about making the student body feel comfortable about its ideas and pursuing them at the university.

The old policy was a bit ambigious about intellectual property ownership. The university can claim ownership of intellectual property created by its employees. However, students were considered a gray area until recently.

"If a student isn't an employee, end of argument," Nisbet says. "We thought why don't we make that crystal clear?"

Source: Ken Nisbet, executive director of the University of Michigan Tech Transfer
Writer: Jon Zemke