Burton D. Morgan Center for Entrepreneurship

FAQ

Entrepreneurship includes (among other things)

  • Licensing intellectual property developed through research to a company outside Purdue
  • Creating a for-profit or non-profit company to  bring intellectual property to the general public
  • Developing new methods for disseminating intellectual property to the general public
  • Developing innovative methods for solving problems which exist in the world and implementing solutions

Entrepreneurial Ambassadors are a group of faculty who have been involved in entrepreneurship in some fashion for a number of years. They bring experience, both successes and failures, and are willing to provide assistance to other faculty working to bring their ideas to benefit the world. While Ambassadors’ experiences vary widely, some general topics with which they would be able to help include:

  • Disclosure to the Office of Technology Commercialization
  • Navigating the Office of Technology Commercialization system
  • Patents
  • Licensing
  • Start-ups
  • Finding internal and external assistance (financial, technical, or advisory) for the development of a technology
  • External grants to support entrepreneurship (SBIR, STTR, I-Corp, etc.)

Frequently Asked Questions

  1. What is disclosure, how do I disclose, and when is the best time to disclose?

    A disclosure occurs when a faculty, staff, or student inventor tells someone, in this case Purdue, about the intellectual property (IP) they have created. All faculty, staff, and students must disclose all intellectual property developed while an employee of Purdue to the Office of Technology Commercialization (OTC). To disclose, you must complete a web-based form (http://otc-prf.org/webform/invention-disclosure) which asks for your contact information, a description of the IP, an application of the IP, the novelty of the IP, and any public disclosures (presentations, publications) of the IP which may have occurred or which are planned. The best time to disclose is as soon as you seriously conceive the idea. You do not need to have data or a working prototype. Just an idea.

    A copyright disclosure form is also available at the OTC website: http://otc-prf.org/node/329

  2. What happens to my idea once I disclose it?

    Purdue’s Office of Technology Commercialization (OTC) will discuss your idea internally and with trusted outside advisors to determine potential next steps for developing your idea. You and your OTC officer will work together to develop a plan to move your IP forward. Each invention is different; thus, the paths to market are varied. However, some general information about the process at OTC is available on the OTC website:
    http://otc-prf.org/technology-transfer/commercialization-processes

  3. I am a student and I heard there is a new policy regarding intellectual property developed by students. Can you explain what the new policy means?

    Generally, a student who makes an invention in a course work for course credit (outside of Purdue employment) are not compelled to disclose that invention to the Office of Technology Commercialization (OTC) unless they would like assistance from Purdue’s OTC.  If the student does choose to disclose and take advantage of the corresponding commercialization resources, they receive the same support and benefits as faculty, staff, and students who are employed by Purdue.  Some exceptions do apply, including for example no third party funding is used to make the invention.  A full copy of the Student IP Ownership Document can be found at http://www.purdue.edu/research/vpr/rschadmin/ip.php.

  4. Will I be allowed to discuss my idea and IP outside Purdue once I disclose it?

    Yes, of course. OTC will work with you to protect your IP prior to disclosing it to people outside of Purdue.

    A confidential disclosure agreement is available on the OTC website: http://otc-prf.org/node/329 for use when you plan to discuss your ideas with someone outside Purdue. You should have a disclosure form on file with OTC before talking to a party outside Purdue.

  5. Where can I find advice about entrepreneurship?

    Several organizations on and off campus are available for assisting with the development of intellectual property (IP).

    Burton D. Morgan Center for Entrepreneurship in Discovery Park: http://www.purdue.edu/discoverypark/entrepreneurship/index.php

    • Provides funding and assistance to faculty entrepreneurs
    • Home of the Entrepreneurial Ambassadors group
    • Manages the Entrepreneurial Leadership Academy – a great way to learn about entrepreneurship and get a bit of seed funding for your idea (http://www.purdue.edu/discoverypark/entrepreneurship/programs/leaderShipAcademy.php)
    • Offers services from Master of Business Administration (MBA) students (list is available on BDM Center home page)
    • Conducts a business plan competition and an elevator pitch competition
    • Offers a certificate in Entrepreneurship and Innovation for students

    Innovation and Commercialization Center (ICC): http://purdueicc.org/

    • Software – Gerry McCartney (765-496-2270; mccart@purdue.edu)
      • Meet to discuss software commercialization each Friday from 8-9 AM at Grey House Coffee
      • Has seed funding available

    Office of Technology Commercialization: http://otc-prf.org/

    • Can assist in finding a licensee for intellectual property
    • Can provide an initial patent search
    • Can assist in developing and submitting a provisional patent or full patent

    Tech Ventures: http://www.purduetechventures.org/

    • Lonnie Bentley (765-491-9505; lonnie@purduetechventures.org) and Matt McKillip (765-860-5050; matt@purduetechventures.org)
    • Offers assistance to Purdue faculty and students related to commercialization
    • Can provide preliminary patent searches, preliminary marketing analysis, and preliminary legal work
    • Can provide sample business plans, term sheets, etc.
    • Work with students who have their own IP (not Purdue related)
    • All services are free

  6. What are some potential sources of internal funding for the development of intellectual property?

    Burton D. Morgan Center for Entrepreneurship in Discovery Park: http://www.purdue.edu/discoverypark/entrepreneurship/index.php

                                                                                                              
    Innovation and Commercialization Center (ICC): http://purdueicc.org/

    • Software – Gerry McCartney (765-496-2270; mccart@purdue.edu)
      • Meet to discuss software commercialization each Friday from 8-9 AM at Grey House Coffee
      • Has seed funding available

    Office of Technology and Commercialization

About Burton D. Morgan Center for Entrepreneurship

The Burton D. Morgan Center for Entrepreneurship fosters the understanding and application of entrepreneurship with faculty and students across the Purdue campus and with stakeholders throughout the State.

Do you have a question for a MBA consultant?

Developing a plan, identifying the market? Please contact them by e-mail.


Contact

1201 West State Street
West Lafayette, IN 47907-2057

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