What is the difference between a grant (sponsored research), contract research and a consultancy?
Contract Research occurs where: • a request is made by industry or a Government agency for a specified research project to be carried out with identified aims and objectives; • the research project is often undertaken on the basis of a competitive bid for funds from an agency; • it is anticipated the research will result in a deliverable product or report of commercial importance to industry; and • ownership of intellectual property is negotiated between the parties and depends on the financial and intellectual contribution of both parties. Sponsored Research occurs where: • the funding is frequently proposal driven on a competitive basis; • the research is mainly basis or strategic but not usually concerned with commercial outcomes; and • the intellectual property results are owned by universities. Examples of sponsored research include the major project funding by the Australian Research Council (ARC) and the National Health and Medical Research Council (NHMRC). Consultancy occurs wh
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