UNIVERSITY RESEARCH COMMERCIALIZATION AND INTELLECTUAL CAPITAL

Abstract

The article substantiates that commercialization of university research results should be treated not merely as a supplementary source of revenue but as an integrated financial mechanism for the accumulation and reproduction of intellectual capital. The purpose of the study is to identify the economic logic, channels, instruments and institutional conditions under which licensing, collaborative research contracts, spin-off creation, intellectual property transactions, consortium-based projects and entrepreneurial practices within academia convert research outputs into financial flows, market value and long-term strengthening of the university’s human, structural and relational capital. The paper synthesizes the approaches proposed by the OECD, WIPO, the European Commission and the current Ukrainian legal framework regulating higher education, science and technology transfer. It is argued that commercialization becomes productive only when the university possesses a coherent intellectual property policy, a transparent benefit-sharing model, professional technology transfer support, proof-of-concept funding, patenting assistance, standard contractual solutions and a stable culture of cooperation with business. It is proven that with proper design, this mechanism provides not only income from licenses or contract research. This will contribute to the renewal of the laboratory base, better retention of research teams, increased motivation of  scientists, expansion of partnerships, reputational strengthening of the university’s image and growth of its ability to reproduce knowledge. A matrix of commercialization channels is proposed. The impact of the latter on the components of intellectual capital is determined. The main barriers for Ukraine and priority areas of institutional improvement are outlined.