Intellectual Property (IP) is a critical and growing part of the global innovation economy. The development of intellectual property has helped create many technologies, services, and medicines that improve life, and also helps to generate wealth for people, companies, and countries. The protection and utilization of IP is important for entrepreneurs and start-up companies, but literacy in the language of IP is a skill that is useful to everyone functioning in the modern world.
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Academic technology transfer – the process of moving research from the lab to the market – provides intrinsic benefits to universities that go far beyond any potential revenues from licenses and royalties, say scientists.