This article discusses the impact of information technology on institutions' intellectual property policies. The author proposes that intellectual property policies need to incorporate principles that apply beyond information technology. An essential step in developing such a policy requires a shift of perspective from the attributes of the product to the circumstances of its creation. The author makes the case that if the university contributes substantially and specifically (in terms of financial, intellectual, reputational support) to the making of a product, the university should share in its profits and have some control over its uses. In discussing policies dealing with information technology, the author analyzes issues surrounding the ownership of scholarly work and courseware.