Decreasing government funding and increased corporate influence have combined to create transformation in higher education. Considering the shifting nature of higher education funding and the pressures that have come with this change, the purpose of this paper is threefold: First, an overview of the paradigm of higher education is provided, including a brief examination of how higher education in the US has evolved from the mid-20th Century to its current form. The point of this is to provide an explanation of how the corporate/entrepreneurial university has emerged. Within this discussion, ethical consequences of corporate funding are presented. Second, some approaches for exploiting external partnerships are discussed. Finally, innovative strategies for maintaining academic and professional ethics are proposed.