100% is common. Stanford was paid hundreds of millions by Google over the years for the use of the patented PageRank algorithm, invented by Google's founders while Stanford students, and therefore owned by Stanford.
Most universities have IP policies giving them ownership of most of the IP their academics create, and student IP may or may not be included. Some exceptions are Duke and Waterloo.
100% is common. Stanford was paid hundreds of millions by Google over the years for the use of the patented PageRank algorithm, invented by Google's founders while Stanford students, and therefore owned by Stanford.
Most universities have IP policies giving them ownership of most of the IP their academics create, and student IP may or may not be included. Some exceptions are Duke and Waterloo.