Most universities have an intellectual property policy that is incorporated into one's terms of employment. This would be definite for each institution.
For all instituions that I know of -- except Stanford and perhaps Wisconsin, and Stanford is said to be in the process of changing this-- and certainly for all Federally supported work at all universities, all *inventions* are the property of the University with the inventor entitled to portion of the net or gross revenue stream from the invention. For all institutions that I know of, including specifically the University of Chicago, except for work-done-for-hire and certain texts created under grants, books, textbooks and artistic creations are the property of the author. The UofC also distinguishes between text-like and device-like software in this regard.
Fred Stafford
f-stafford[_at_]uchicago.edu
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