Media Contacts:

Debbie Griffith, NC State News Services, 919/515-3470 or debbie_griffith@ncsu.edu
Jim Kapp, Procter & Gamble, 513/762-1755

Nov. 14, 2000

NC State to Receive Major Gift of Technology, Intellectual Property

EMBARGOED UNTIL WEDNESDAY, NOV. 15, 1:45 P.M. EST

Consumer products company Procter & Gamble on Wednesday, Nov. 15, will announce a potentially lucrative donation of patented innovations to North Carolina State University.

The announcement will be at 1:45 p.m. Wednesday, Nov. 15, in the NC State Alumni Memorial Building conference room. Parking will be reserved at the parking lot on the south side of the NC State Memorial Belltower.

The company's donation involves rights to a portfolio of patents and patent applications, along with related intellectual property, on two technologies with the potential to enhance the paper recycling process. If the donated technology is successfully developed and commercialized, NC State would benefit from any revenue derived from the donated technology.

During the Nov. 15 event, Gov. James B. Hunt Jr. is expected to give remarks.

Joel Monteith, P&G's managing director for Global Tissue and Towel new product development, will discuss the value of partnerships and the importance of leveraging P&G technologies in new ways. He will explain a proprietary P&G paper technology and formally donate it to NC State, whose researchers will develop and commercialize the technology.

NC State Chancellor Marye Anne Fox will outline the university's programs for developing technology.

Last year, P&G began opening its vault of more than 27,000 patents as part of a strategic initiative to leverage the value of these innovations through donation, sale, out-licensing or joint venture agreements.

According to the company, technologies donated to world-class universities and research institutions like NC State can deliver new revenue streams to those universities and the development of important new technologies which otherwise may never have been commercialized.

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