The IAC also provides important guidance on how the consortium funds available to the Center will be allocated to the different research activities. Consequently, the long-term fundamental research effort is determined with a pragmatic balance of specific projects with near term goals. In this manner, the research is always establishing new technical, leading-edge technologies while providing the member companies with applications for current operating requirements. Member companies have further flexibility in participation in the Center by defining a research and development activity that addresses the company's specific needs. This Company-Specific Research Option enables a company to augment existing technical efforts by employing the capabilities of the Center to focus on a specific need.
Arrangements are also available to protect the company's proprietary interests and know-how.
Furthermore, mutually beneficial arrangements can be reached concerning the exploitation of technological advances resulting from the research. Industrial Benefits Participation in the Center enables member companies to have access to leading technological developments in process modeling, monitoring, and control that take place in the Center. The Center also often invites leading academic and industrial colleagues in several subjects to give plenary talks during the Center meetings . At the same time, Center membership enables a participant to exchange ideas with other industrial representatives and to sense the technological prospective of the leading consortium members in the areas of interest. This is an effective and economical approach in maintaining a current understanding of the status of industrial and academic efforts in this field.