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Industry Sponsored Research on the Graduate level presents opportunities and potential conflicts of industry - university sponsored research. There are risks associated with industry - university joint research. As long as each party understands each others purpose and needs and are in agreement, these risks will be minimized. The benefits to both industry and the university far out weight any risks. Topics covered focus on the purpose of conducting research at universities; the purpose of conducting research at industries; opportunities and potential conflicts of industry sponsored research at universities; handling of the exchange of information, patents, and intellectual property in industry sponsored research; and, resolving the potential conflicts of safe guarding the use and dissemination of research results.