Montpelier native and Lt. Gov. Jon Husted recently announced the launch of the “Ohio IP Promise,” which is being touted as “an initiative to make Ohio universities more attractive to innovators and entrepreneurs.”
In simplest terms, the Ohio IP Promise unites state higher education institutions in order to provide a unified process for commercialization of research.
The initiative presents a streamlined, statewide standard for the ownership of intellectual property. According to a release from Husted’s InnovateOhio, it’s been created with the guiding philosophy that research and invention done on the campuses of Ohio’s universities should be the property of the inventor, not the institution.
According to Innovate Ohio, many schools possess the ownership rights to research and inventions with no plans to bring it to the marketplace.
“In order to correct this problem, the Ohio IP Promise establishes a uniform set of guiding principles so researchers know exactly how they can take charge of their work and make it available to the public, if that is their desire,” reads the release.
“The Ohio IP Promise will not only make Ohio a more attractive place for people to do research and invent, it will draw investment and jobs here by launching new business ventures through our universities,” Husted said.
On Friday, representatives from the higher education community joined Husted on The Ohio State University’s campus to officially launch the Ohio IP Promise and tout its potential to put the state’s public universities on the forefront of intellectual property development.
Ohio State is one of the 16 founding members of the Ohio IP Promise.
“Around the country, we have great research institutions who do it well when it comes to intellectual property and commercialization, but nowhere in America is a state doing this well, which puts Ohio universities in a more competitive place,” Husted said.
“From its inception, the (Gov. Mike) DeWine-Husted administration has emphasized the critical role that great research universities play in Ohio’s growing innovation economy,” said Bruce Johnson who serves as president and CEO of the Inter-University Council of Ohio. Johnson served as the 63rd Lt. Governor of Ohio. “By focusing on world-class talent attraction, Ohio is leading the country with innovative approaches to bringing new research to market, which will help with the creation of new companies and good paying jobs.”