Intellectual property and its financial management at the University of Malta : a case study

Abstract

Purpose: This study assesses intellectual property (IP) and its financial management at the University of Malta (UM). This entails a determination of the significance of IP and an assessment of the present and potential management of IP and its financial implications. Design: A total of 13 IP-stakeholders were contacted. All agreed to participate in a semi-structured interview divided into two parts, involving a number of closeended and open-ended questions. However, two stakeholders agreed to participate only in the second part of the interview. Findings: IP was considered to be significant at the UM. In fact, the UM was adopting an entrepreneurial vision to commercialise its IP. The aim was to provide social benefits while becoming financially diversified. To this end, a sound IP framework requiring minimal improvements was created for the proper management of any IP arising from research, towards its commercialisation. Yet, the present level of research activities and IP management were found to be restricted by the UM's major funding challenge, while the latter was still lacking a cost-efficient and effective approach. The potential for improvement was dependent upon the UM's ability: to acquire additional funding; to render IPrelated units self-sufficient, and to adopt a more cost-efficient and effective IP managerial approach. A satisfactory potential of success was present in the adoption of these three non-mutually exclusive courses of action. Conclusion: The UM's funding challenge may be considered as the catalyst for change, contributing towards the enhancement of IP significance at the UM. However, the same challenge is impeding the change, notably hampering the present IP management to reach its potential. The courses of action already referred to seek to overcome such challenge for the UM to achieve its inter-linked goals, particularly that of a financially diversified funding system. Yet in the shortterm, the emphasis probably needs to remain on the third course of action, that is, the adoption of a cost-efficient and effective IP managerial approach, which demands a reasonable level of effort and commitment. Implications/Value: I hope that this study would enhance the awareness of the present funding challenge interfering with IP management at the UM and contribute to its improvement, which hinges on the sustained contribution of: the academic staff; the management; the industry and the government, and the general public.