Not sure on what's typical, but my University uses a "you get to keep your IP" as a selling point; so presumably there must be enough of other institutions wher

Not sure on what's typical, but my University uses a "you get to keep your IP" as a selling point; so presumably there must be enough of other institutions where this is not the case. UMissouri's attempt to claim royalties for student's in-class developed iPhone app (although later backing down and changing policies) is an interesting example of the other extreme.