This case study analyzes the negotiation of university policies regarding technology transfer at one public Research I university. Drawing on and modifying institutional theory and reproduction-resistance theory, it explores the process by which organizational policies concerning faculty property rights are defined. Through participant observation of the university's Technology Transfer Committee and the analysis of documents, the authors identify competing rational myths and differential power and resources that structure this committee's policy deliberations. In the organizational scripts generated in the committee's work, the authors find that the central administration takes the lead role in shaping the university's policies on technology transfer, though it confronts challenges from the faculty and must accommodate to certain concerns of the faculty.