The relationship of science to education, government, and industry has changed significantly in the last two centuries. These relationships are briefly outlined, including those in France, Germany, and Britain during the industrial revolution and beyond. During the nineteenth century applied science was in the forefront with the development of synthetic dyes, and penicillin, and antibiotics. The balance has shifted today so that research being conducted currently is more basic than applied. The problem today seems to arise in the transfer of the technology and the demand from government for better accounting of research funding. Universities could and must do more to interface and obtain the cooperative aid of sophisticated industrial developers in delivering fundamental innovations to the marketplace. Barriers to the transfer of technology include the protection of intellectual property rights. The conclusion is that to insure the correct property exchange from the fundamental innovator to the industrial developer at the right time, the innovating university must identify and establish rights in more intellectual property than it will exchange through the timely management and intelligent intellectual property policies. This can be accomplished by better awareness and use of current patent laws and rights. (JMF)