Magazine article ASEE Prism

Taking Care of Business

Magazine article ASEE Prism

Taking Care of Business

Article excerpt

THE COMMERCIALIZATION of academic research continues to offer big dividends-for a few top schools anyway. In 2003, 165 American universities earned $1.02 billion in gross income from licensing, according to the latest annual survey by the Association of University Technology Managers (AUTM). Of that amount, $825 million came from licensing; $38 million from equities; and $157 million, other sources, mainly damage awards from successful copyright infringement lawsuits.

Topping the list of schools was New York University, which saw revenues of $86 million. second was the University of California system at $61 million (two other institutions earned more than UC, but requested anonymity). NYU's main breadwinner was a drug that treats rheumatoid arthritis and Crohn's Disease. …

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