IP framework critical to commercialising research

Feedback is being sought from universities, researchers and industry on an intellectual property (IP) framework to promote greater collaboration between universities and industry and boost research commercialisation in Australia.

Minister for Education and Youth Alan Tudge has today launched the consultation paper on the Higher Education Research Commercialisation (HERC) IP framework.

“In my consultation with the sector, IP has been identified as a key barrier to universities and business working together,” Minister Tudge.

“Barriers to negotiating IP include lack of money, time and expertise on both sides, and a lack of understanding of each other’s needs and objectives.

“Having standardised agreements would reduce these frictions between universities and business and cut down on time spent negotiating.

“While Australia produces world-class research, we need to reduce the barriers that stand in the way of turning great research outcomes into breakthrough new commercial products and ideas that will create new businesses and grow our economy.

“We want our researchers and universities to be rewarded for their discoveries, and ensure collaborating partners have certainty to back their investment.”

The HERC IP Framework will provide standardised licensing and contractual agreements for intellectual property rights to establish a strong foundation for negotiating and managing successful university-industry collaborations and partnerships.

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