The first purpose of this intellectual property policy is to provide the necessary protections and incentives to encourage both the discovery and development of new knowledge, its transfer for the public benefit, and its use for development of the economy. A second purpose is to enhance the generation of revenue for the University and to provide financial and reputational benefits for the creator(s). The third purpose is to preserve the University's freedom to conduct research and to use the intellectual property created by that research or pursuant to an institutional initiative. The University is guided by the following general objectives:
- To optimize the environment and incentives for research and for the creation of new knowledge at the University;
- To ensure that the educational mission of the University is not compromised;
- To bring technology into practical use for the public benefit as quickly and effectively as possible;
- To protect the interest of both the institution and the creators of intellectual property through a reasonable consideration for the University's investment in its intellectual property.