Massachusetts General Laws Part I. Administration of the Government (Ch. 1-182) Ch. 75, § 14A

Notwithstanding any provision of law to the contrary, the trustees shall prescribe and enforce such regulations as they may deem necessary, and may enter into contracts with corporations, foundations, other entities, and individuals concerning inventions, discoveries, research, or other work product, including patents, trademarks, copyrights, trade secrets, and any other intellectual property, developed under the terms of a sponsored agreement entered into by the university or involving the use of university funds, facilities, excluding libraries, equipment, material or time by students, research fellows, staff members, faculty or other university personnel, including the transfer of rights involving such work product, the amount of the respective shares in the proceeds therefrom, and provision for the resolution of any and all disagreements involving the same. The trustees shall also have the authority to prescribe in such regulations the circumstances under which the university, students, research fellows, staff members, faculty, and other university personnel may own equity or hold other financial interests in connection with such work product.