[peter303]

Typically there is a three way way split: college, dept and prof/student. I know students who drop out rather than give up too much to the university.

I was a Stanford grad student in the 1980s when these policies were still being worked out. There were cases of grad students being abused by the commercial interests of their professors before the university clamped down. These abuses included postponing the publication of results which could delay graduation or an academic career. Now profs and students can only spend 20% of their time on commercial interest or should take a leave of absence and leave Stanford facilities if they want to work more. The just retired Stanford President did such when creating his RISC computer company MIPS. Also you can only delay publication one year.