Ball State University is working to allow professors to profit from some of their work done outside the classroom.
Provost Terry King said the university might allow professors to commercialize intellectual property, which is a patent or copyright on academic research and textbooks with potential commercial value.
"It has become an increasing focus of universities across the country as the public looks to the university to help economically," King said.
Economics professor Cecil Bohanon, who recently completed a major research project, said he thinks Ball State University will commercialize intellectual property. He said it is a good concept, but the university needs to work out the details.
"A lot of people don't like it, but I think it's inevitable," he said.
Bohanon said splitting profits from intellectual property between the administration and faculty could be an obstacle.
"Let's say the provost's office gave our department funding for a project to help students," he said. "If the product that comes from that becomes a huge hit, who do the profits belong to - the department or the university?"
King said professors who do independent work, such as writing textbooks, retain full ownership of that property. When a faculty member receives money from Ball State, the results of that research legally belong to Ball State, he said.
King said the university wants the faculty to profit from their work.
Bohanon said another issue is many people are opposed to universities using academic research for profit.
"The university is a not-for-profit organization," he said.
King said academic research was valuable to society if it was commercialized because it would be available to everyone.
In addition to profits, King said, faculty can benefit from commercialization of intellectual property by seeing people benefit from their work.
Students who assist faculty with research projects can also benefit from commercialization of intellectual property.
"Students can be inventors, too," he said. "It gives the student the opportunity to be involved in real first-class work."
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