The Idaho Research Foundation, Inc. (IRF), is a private nonprofit corporation organized for the purpose of supporting research at the university. Its principal activity is licensing technologies resulting from academic research to the private sector. The IRF identifies and protects the intellectual property developed at the University of Idaho and transfers it to the private sector through licensing agreements in order to secure support for and further develop the university's academic, research, and service responsibilities. The IRF also disseminates scientific knowledge and technical information and encourages and assists researchers and inventors by providing the means by which their scientific discoveries may be patented, copyrighted, developed, and applied. The transfer of technology generated through UI research turns society's investment into new products and industrial processes, thus increasing Idaho's competitiveness as well as the nations. It was founded in 1947.