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*The survey supports the view that 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 reason for increased invention 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 to industry contracts. (92)
*Perhaps the most surprising result is the 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 university innovation offered to the market has declined in commercial appeal; 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 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 at least the possibility of learning by doing effects. (102)
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