This study examines and evaluates the recent progress made in seven Asian countries (China, India, Japan, Philippines, the Republic of Korea, Singapore and Thailand) towards more effective and mutually reinforcing relations between universities and industries in the field of scientific and technological research and proposes a checklist for action to make these relationships even more effective from the broad perspective of the national economy. In particular, it highlights the mechanisms adopted by these Asian countries for technology transfer and pays particular attention to the use of the intellectual property system as an instrument for technology transfer from university to industry. While economic and historical situations are different across Asian countries and no simple solution can be found that is universally applicable throughout the region, it is the hope of the participants in this project that this document will provide some useful lessons and insights, and will thus be helpful to policy-makers who are concerned with evaluating the effectiveness of university- industry relations in their respective countries and identifying ways to improve them.