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McMaster University and Intellectual Ventures Partner on New Inventions
September 27, 2011
BELLEVUE, Wash. and HAMILTON, Ontario, Canada — September 27, 2011 — McMaster University (McMaster) and Intellectual Ventures (IV®) have announced a partnership that provides an additional avenue for McMaster faculty to commercialize their inventions and discoveries.
This partnership will help McMaster gain access to global commercial markets for its innovations, while providing financial incentives to McMaster researchers for submitting new invention ideas. The partnership allows IV to invest in the work of McMaster faculty in areas of interest to IV, such as next generation data centers, dynamic surgical enhancements, and green and sustainable chemistry. McMaster will own the resulting patents and IV will receive a license to commercialize them. The inventors will earn a share of the profits from inventions that are commercialized.
Under the partnership, IV will identify specific areas of interest where technical problems or market opportunities exist. McMaster researchers and IV may develop new ideas in these areas to create the next wave of game-changing technologies.
This partnership is not exclusive and allows both McMaster and IV to engage with others for intellectual property related matters.
"McMaster is one of the leading research institutions in the world and ranks first in Canada in research intensity. We are excited to work on new inventions with the talented McMaster faculty and help bring their inventions to the world’s leading companies," said Parminder Singh, president of Intellectual Ventures Canada.
"This agreement gives McMaster researchers one more option for commercializing their discoveries and inventions. We will work closely with researchers to determine if their projects would benefit from the unique technical, financial and commercial expertise IV brings to the table," said Elsie Quaite-Randall, executive director of the McMaster Industry Liaison Office. "McMaster researchers will also benefit from IV’s insight into the particular challenges and problems that the commercial market needs to solve."
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies, and invests both expertise and capital in the process of invention. IV’s mission is to energize and streamline an invention economy that will drive innovation around the world. www.intellectualventures.com
About McMaster University
McMaster University, one of four Canadian universities listed among the Top 100 universities in the world, is renowned for its innovation in both learning and discovery. It has a student population of 23,000, and more than 140,000 alumni in 128 countries.
For more information, visit www.mcmaster.ca.
For press inquiries, please contact press@intven.com or smarts@mcmaster.ca. For all other inquiries, please contact info@intven.com or follow IV on Twitter at @IVInvents.
Intellectual Ventures is a registered trademark of Intellectual Ventures Management, LLC (IV). Other company and product names may be trademarks of their respective owners.
Author: Intellectual Ventures
McMaster University
Source: Intellectual Ventures | McMaster University
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