Colleges Want IP Rights To Your School Work?

Invent something cool while you are attending college? Be prepared to have your school attempt to sink its claws into the profits.

The University of Missouri student came up with an idea in class one day that spawned an iPhone application that has had more than 250,000 downloads since its release in March 2009. But the invention also raised a perplexing question when university lawyers abruptly demanded a 25 percent ownership stake and two-thirds of any profits.

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