When it comes to start-ups, UCLA is among the top universities in the nation, with more than 20 new companies established each year, about the same number as MIT.
From UCLA Today:
“As the birthplace of many new groundbreaking products and services, UCLA is a tremendous source of talent and innovation, fueled by $1.18 billion [annually] in research funding.
However, for many academics venturing into the world of intellectual property management for the first time, it’s a foreign place with its own terminology, acronyms and concepts unfamiliar to most.
This can result in mass confusion for the budding UCLA inventor who wants to bring his or her technology out of the laboratory and launch it into the marketplace.
Such was the case for professor Jacob Schmidt, Department of Bioengineering, who not only created a novel drug screening product but also co-founded a company to license his invention from the university.
“I can write up what the invention is and can say what it does, but I don’t know the legalese and what things are patentable and defendable,” Schmidt said. “There are a lot of details that I’m not as aware of.”
Jacob Schmidt, a professor in the Department of Bioengineering, and Brendan Rauw, executive vice chancellor for research and executive director for entrepreneurship, in Schmidt’s lab.
UCLA’s Office of Intellectual Property and Industry Sponsored Research (OIP-ISR), which currently manages 1,800 inventions, 500 material transfer agreements, and enters into roughly 50 licensing and 400 industry-sponsored agreements each year, provided the information and support Schmidt needed to put his mind at ease and cut through the legal fog…”