Most universities claim to own at least some faculty-created works. This paper explores ownership of faculty-created intellectual property by examining copyright cases that have touched on faculty ownership of their work, the teacher exception to the work-for-hire doctrine and its relationship to academic freedom, and university copyright policies. It concludes that faculty members have little protection for their work other than university copyright policies that may not alter the traditional work for hire arrangement set up by the Copyright Act. (Contains 192 notes. An appendix lists the 70 universities whose copyright policies were examined.) (Author/RS)