Financial reports simply measure results in terms of dollars and cents. At IP Advocate, we believe that while financial results are not the best measure of patent and licensing efforts, they should still be made public in order to encourage accountability of funds generated. This is especially important if the commercialization policies generate “discretionary income”. Since funds generated are not all directed back into research efforts, detailed information as to the disposal of discretionary income should be included as part of financial disclosure.
Dollars generated should in no way outweigh success in terms of ethical conduct, societal impact and cultivating ongoing innovation. However, the goals of financial profit and societal benefit do not have to be mutually exclusive, so long as licensing and commercialization are conducted in a Socially Responsible manner with equality for all parties.
As with Annual Reports, many technology transfer offices publish their financial reports on their website to be viewed by interested parties. IP Advocate encourages every university to publish all results, including historical reports.
View the Financial Results from select research universities: