Universities to Retain All Earnings from Research Findings

Chinese universities will have the autonomy in transferring the intellectual property from scientific research and shall keep all the earnings, a government document said.
 
According to a circular released by the Ministries of education, and science and technology on Friday, no less than half of the net earnings from transfers shall be rewarded to researchers.
 
Major contributing researchers and faculty members should take no less than 50 percent of the total rewards, said the circular.
 
China has created a series of policies to encourage scientists to translate their research into commercial products.
 
The State Council in March issued a regulation that provides detailed measures for academics and inventors on how to commercially exploit their work, as the country pushes for innovation-driven development.
 
Authorities are also encouraging research institutions and technical personnel to transfer or licensing their achievements or to invest with them as trade-ins.
 
Performance in translating scientific outcomes to products will be considered in the overall evaluation of research and higher learning institutions, according to the policies.
 

Source: Xinhua