Abstract
Industry support for university-based research has increased by 38% between 1980 and 1985. Observations and cautions surrounding this relationship are offered. These relate to matters of conflict of interest, publication rights, fulfillment of expectations, costs, and legal agreements. Administrators and faculty are urged to formalize agreements that assure openness, fiscal soundness, and appropriate legal protections. Contracts, signed by the appropriate institutional officials, prevent trouble and exist for mutual benefit. Negotiating and executing contracts requires patience and understanding and an attitude of goodwill and flexibility that respects and tolerates the existing, and usually cumbersome, bureaucracies in each entity.

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