A motion passed at the March 3 Board of Trustees meeting will allow for the internalization of the University’s technology transfer services, meaning Queen’s will now have the right to negotiate license agreements with third parties related to new university technologies and inventions.

The motion requires alterations to the University’s current management and license agreement with PARTEQ Innovations. According to their website, PARTEQ is an organization that was founded by Queen’s in 1987 to “commercialize intellectual property (e.g. inventions) arising from university-generated research.”

A Board of Trustees report noted that technology transfer activities have returned more than $35 million to Queen’s and inventors since PARTEQ’s inception. A new office under the Vice Principal (Research) — the Office of Partnerships and Innovation — will manage the revised agreement. 

Dr. Jim Banting, who currently serves as President and CEO of PARTEQ, will lead the office as Assistant Vice-Principal (Partnerships and Innovation), and will also continue in his position at PARTEQ during the transition period.

“Currently, in a given commercialization project, intellectual property (IP) rights flow from the inventors to Queen’s, to PARTEQ,” Banting wrote in an email to The Journal on Monday. 

“This flow of IP provides PARTEQ with the right to negotiate license agreements with third-parties related to Queen’s technologies.” However, under the revised agreement, IP rights will now flow straight from the inventors to Queen’s. 

Once internalization of the technology transfer services is complete, the University will have the right to negotiate license agreements with third parties related to new Queen’s technologies.

According to the Board report, professional service company KPMG was consulted during the decision making process and provided advice to protect Queen’s charitable status as defined by the Canada Revenue Agency.

Despite these changes coming into effect, the University will see no real difference in technology transfer services, Banting says.  “The scope of technology transfer services will remain the same, hence there is no anticipated impact to the Queen’s community.”