Conclusion 13

We were interested to hear that UKRI takes a different, ‘more liberal’ approach to IP than some other parts of the public sector including the Advanced Research and Innovation Agency and the National Institute for Health and Care Research. This means the taxpayer is potentially missing out on recouping its expenditures if the company subsequently exploits the IP commercially. UKRI told us that it is currently reviewing whether its standard IP terms and conditions are encouraging the universities it funds to make the most of the IP their research generates. However, it noted there is a risk that overly stringent terms and conditions would inhibit spinout companies from attracting private investment and growing.25 This is not a concern that we share, if relevant commercial contracts are appropriately drafted.