Columbia University and its faculty share the tangible and intangible benefits of intellectual property flowing from the laboratories, offices, skills, and minds of the individuals that make up this great University. Because of a 1980 change in federal law, Columbia and its faculty can share the increasingly significant tangible benefits of intellectual property. The revised law has allowed universities to retain title to, and license, inventions and other innovations financed with federal funds.

University-industry collaborations pose a complex set of challenges. Universities must preserve core academic values—the pursuit of knowledge, freedom to publish, and open discourse—while adequately addressing industry's need for competitive advantage. However, two decades of experience have shown that academia and industry can work together effectively and that these collaborations improve the health, wealth, and security of our citizens.

The Trustees of Columbia University have authorized Science and Technology Ventures (STV) to manage the intellectual property assets of the University. On behalf of the University, STV is responsible for the expenses and risks of patenting and licensing. STV acts as a business liaison when researchers interact with industrial and corporate enterprises. Their services are available to anyone at the University conducting research as defined in the Faculty Handbook.