Changes

*The survey supports the view that Reliance of industry reliance on university inventions increased during this period, and, in indicating the reasons, respondents weighted changes in their own R&D more heavily than a change in faculty research toward topics of greater interest to industry. Together with the productivity results, this suggests that the primary *Primary reason for increased invention more disclosures may indeed be an increased propensity for faculty to disclose , rather than a change in research focus. The industry survey also supports an increased receptivity of universities *Universities becoming more receptive to industry contracts. (92)*Perhaps the most surprising result is the negative Negative total TFP growth of licenses executed (-1.7% annual growth). That is, - growth in disclosures and patent applications has been greater than the corresponding growth in licenses executed. We interpret this to mean that the marginal **Marginal university innovation offered to the market has declined in commercial appeal; universities **Universities are apparently delving more deeply into the available pool of innovations in their efforts to increase their commercial activities. (102)*Finally, we do not have No evidence on the importance of learning by doing on the part of TTOs except to note our finding of a negative association between TTO growth and TFP growth in licensing, which would suggest **Suggests at least the possibility of learning by doing effects. (102)