Penn State has made two significant changes to the manner in which it deals with IP and industry-sponsored research. First, for new research that is industry-sponsored, the university will cede ownership of the IP to the sponsor. Second, in those cases where the university must retain ownership of the IP (as in instances of federal research funding), the university will offer the new "Penn State Two Step" licensing option in which the industry sponsor may take a licensing option on the IP at a fixed price, thereby reducing risk and uncertainty. In this exclusive webinar, Dr. Hank Foley, vice president for research at Penn State, joins BVR to discuss these changes, the university's assessment of their benefit, and how this break with more than two decades of past practice will help reach real goals in research our costs of holding IP.