At the same time American lawmakers and business groups are placing particular emphasis on commercializing technical innovations created on college and university campuses, increasing numbers of universities are embracing regional development and new venture creation as their mission (Markman, Phan, Balkin, & Giandonis, 2005). Meanwhile, academic entrepreneurship has been receiving growing attention from a number of research perspectives, including management (Shane, 2004), sociology (Owen-Smith, 2000), higher education (Powers, 2000) and, particularly, economics (Siegel, Waldman, & Link, 2003). This study seeks to understand what influences faculty researchers as they decide whether and how to commercialize aspects of their scholarship using narrative interviews for grounded theory development to arrive at a model that later could be empirically tested in a field study.