Licensing for good: Social responsibility in the university-industry technology transfer process

Abstract

Universities are increasingly endowed with the responsibilities of addressing social problems and partaking in the creation of a sustainable future. Teaching, research, and social engagement must be complemented with the successful transference of technologies from academia to markets. As universities re-envision their position in society and embark in new approaches to tackle social and environmental challenges, supporting interdisciplinary collaborations, designing programs with experiential components, and priming social relevance across all of their endeavors, they cannot forget the role of the university-industry technology transfer process in spreading innovation and securing social value creation. This is particularly relevant for technologies with a potential for environmental or social impact and those funded with federal grants. University Technology Transfer Offices (UTTOs) should make use of licensing terms and practices ensuring that the technologies under their purview reach the market and realize both their financial and social potential. In this study, drawing from literature on corporate social responsibility and university licensing, we evaluate the strategy and social responsibilities of universities when licensing their technologies, and provide guidelines on licensing practices that are aligned with the pursuit of profit and the enabling of social value.