Generally a separate agreement is entered into between MIT and the sponsor on the resulting tangible research property. First and foremost, it is important to note the following MIT policy statement. The terms of such sponsored research agreements apply not only to inventions made by faculty and staff, but also to those made by students and visitors, whether or not paid by MIT who participate in performing research supported by such agreement. See the Invention and Proprietary Information Agreement for more detail on the specific rights of students. There are certain inherent rights that belong to the students also.
Some examples follow.
This however does not in any manner grant to them free reign to commercialize their work. They are responsible to continue to report inventions and other intellectual property developed in the laboratory. To withhold such information would be most unethical. A possible sub-scenario is that a student engages in unethical information withholding behavior. The student could conceivably attempt to withhold critical discoveries while engaging in research at the laboratory.