The IP policy we have is just part of the puzzle in terms of the commercialization successes at Waterloo. We're very easy to deal with. If a company or an investor wants to know who owns the IP, just talk to the guys who created it. It's theirs; end of story. You're not dealing with the university research departments assigning IP, taking back IP, or saying “I want 25% of this”. Sometimes universities can be very hard to deal with when they're dealing with commercialization. They think they have something worth a zillion dollars, and they want a big piece of it. In fact, it's worth nothing until somebody commercializes it. So it's very much an attitudinal thing.
If I were trying to come up with a policy for other universities to adopt, I think it would be to give it to the researchers so that the incentive was at the right place to make the commercialization happy. Or it would be to be very easy in terms of dealing with industry and investors to help make it happen. The more blocks you put in their way, the more likely they'll be to say “Oh, forget it, we're just going to do it ourselves”.