Many people believe the Waterloo policy is the way to go at universities. At Ryerson, faculty and students retain their intellectual property except in cases where the university has invested significantly, in which case the university negotiates a share with the individual. But as a good friend of mine said, 10% of nothing is nothing. So it really is important to encourage innovation.
Again, in my view, we don't do enough real evaluation, so a lot of what we talk about is anecdotal, but most people would say that Waterloo has got back exponentially what it gave up by not taking a very restricted view of intellectual property.