(Juneau) - House Bill 282, sponsored by Representative Hugh Fate, (R) Fairbanks, could help the University of Alaska and its employees receive income from intellectual property. The bill was forwarded from its first hearing in the House Education and Social Services Committee, Thursday.

Currently, Alaska law prohibits researchers from profiting from products or inventions that were developed using university facilities, most commonly referred to as intellectual property. The prohibition is in the Alaska Executive Branch Ethics Act.

Across the country campuses involved in research from medical techniques to new inventions have realized the advantage of sharing the potential profits. There is an added incentive for the researcher and there are many aspects of the process where a university can assist; from facilities, to patents, to marketing. If, through the research, a new or improved product or invention is developed both the researcher and the University may receive the financial benefits.

By changing the statute, HB 282 will offer an opportunity for the University to recruit top-level researchers who may also serve as faculty. It will also help retain many of the quality staff currently in the system. The contractual agreements will be negotiated between the researcher and the University President and could include joint business ventures.

HB 282 now moves to the House Labor and Commerce Committee.

# # #