To foster entrepreneurial activities among undergraduate students, the University of Arkansas System Board Policy 210.1 allows students who develop an invention as part of their coursework or on their own to own the rights to their inventions provided that:
- The student inventor(s) made use of resources that are routinely made available by the College/Department
- The student(s) are not paid by the University either through internal funds (commissioned funds) or under a grant or contract with an outside party
- And there are no pre-existing obligations for the University in regards to the potential inventions that may be generated in a specific course.
If students decide to commercialize their invention through the University, the students will have to assign the ownership of the invention to the University in which case students have the same rights and obligations as highlighted in University of Arkansas Board Policy 210.1