Wasn’t this how and why Havok was formed? A uni research group and a PhD project…which as far as I know…and this could be urban myth…wasn’t submitted so they could keep full rights…
Urban myth. All research results from the Govt. funded research projects in Uni are the IP of the College by default. Companies wishing to exploit that research directly will negotiate terms with the Uni. The specifics on what is IP, what is (c) and what is commercializable without needing an IP assignment from the Uni is down to the specifc cases.