Colleges and universities across New England are teaming up with business to prepare students for real-world jobs as both foot soldiers and critically-thinking generals by entering into agreements with business to commercialize faculty research, and contracting out their strategic expertise. Businesses are providing scholarships and internships, funding university research programs and giving their executives time off to teach on campus. While there are benefits to these partnerships between business and higher education, there are also associated risks. This article discusses how higher education can safeguard their interests in these partnerships.