Dr. James Browne:

An individual academic is leading a research project or part of a research project, intellectual property is created and if the university believes the intellectual property is worth patenting, which is always a question, it then patents it. It incurs expenses in doing so. The university now has patented intellectual property that is effectively owned by the university and the individual who created it. If the individual wishes to create a start-up on the basis of that, in general - it depends on the circumstances because money is required for a start-up - the university allows the individual to do that, subject to all disclosures in terms of any conflicts of interest he or she may have with the institution. The university looks for a portion of that enterprise to protect its interests in the intellectual property. The enterprise is then set up. In general, that proportion might be of the order of 10% to 20%.