(Juneau) - University of Alaska faculty and researchers could be entering into private business ventures with their campuses that will benefit both. HB 282, sponsored by representative Hugh Fate (R) Fairbanks, will allow the University President to negotiate Intellectual Property agreements with those researchers developing new or improved items.

The Bill passed out of the House Labor and Commerce Committee today, its last stop before consideration by the full House. "This legislation could open the door to advances in technology that have been hampered in the past because future development is seldom advanced without some type of property rights. The University is already involved in nanotechnology research and other high tech areas. Being able to continue that process could represent income for the University and the researcher," Fate says.

Agreements between a university and a researcher have been profitable at other campuses across the nation. The University can provide facilities and research assistants that the researcher can't duplicate. There is also an advantage for submitting and receiving patents when they are submitted through a university.

HB 282 is now in the House Rules Committee for scheduling on the Floor.

# # #