This digest reviews entrepreneurship activities among university and community college faculty and administrators, citing a number of studies that examine corporate-university linkages. These studies note that some faculty act as consultants to organizations, thus providing an avenue for personal interaction between industry and academe, or engage in research that leads to commercialization of a product, which in turn results in formal research arrangements between the industrial partner and faculty members. Many patents held by business corporations, for example, are the result of work performed in university laboratories. Community colleges also participate in entrepreneurial activities by teaching students who may eventually create their own businesses. The major difference between academic researchers and industrial entrepreneurs relates to differences in values. While academic work is done within a relatively narrow disciplinary focus, entrepreneurial activities involve linkages between resources and opportunities and require technical, managerial, and interpersonal competencies. Such value differences keep many faculty from participating in entrepreneurial activities, even though these activities may benefit their institutions and society at large. (Contains 8 references.) (JM)