This legislation allowed universities title to inventions funded with federal dollars. The Technology Transfer Office is responsible for finding a market for the inventions of UO faculty and students. Income from licensing agreements is divided between the inventor, the department and the university. Todd Sherer was hired as the first full-time director in 1997. Licensing agreements have made significant contributions to research at some universities, Sherer explains.
Industry has certain objectives for their company.
Though modest, income from the licensing of patents he holds has helped fund further research in Keana's lab and the UO's Department of Chemistry. While Keana and other inventors file many patent applications for technology that never get licensed or, if licensed, never make any money, one successful patent can mean millions of dollars for the university. Today, he's still busy thinking up new inventions.