When I was doing my FYP in CS at Trinity, I remember both myself and a few other students looking for the answer to this question.
My final year project supervisor told me that I retained the copyright and the IP for my final year project. The supervisors of the other students who asked the same question said the same thing.
My supervisor was very definite about this.
That said, I didn’t get anything in writing. However, I also did not sign, or otherwise agree to any contract – to the best of my knowledge – signing away my rights.
As I understand it, I have to be aware I am making a contract for it to be legally binding (although IANAL).
As a result of this, I assume I do indeed own the rights to my FYP and other work I have done during university.
This obviously only applied to undergrad work – all post grad work is usually property of the university where it’s done, afaik, as are any research patents etc that fall out of it.
Also, I imagine even undergrad work would probably be subject to laws about derivative or collaborative works. Work where you implement a supervisors idea would probably also affect the situation.
I’m not making a legal arguemnt here, just saying that definitely the impression I got in trinity was that students owned the rights to their own work.
Obviously, get legal advice before turning in your multi million dollar idea as a college project!