The responsibilities of universities, apart from education and research, have gradually expanded to include the promotion of national economic development. University-industry cooperation is seen as a major avenue for universities to contribute to society. Through this process of cooperating with enterprises in collaborative research and development, knowledge creation, and commercialization of technology, educational institutions can build innovation capabilities and enhance their competitive advantages. Practical experience with Japanese university-industry cooperation has been a topic of interest for managerial scholars and science and technology policy-makers. The Taiwanese government, in preparation of related national policies, has modeled the Japanese experience with university-industry cooperation. The main purpose of this study was to use content analysis and field study to outline the practical characteristics of Japanese university-industry cooperation and theoretical research on this phenomenon from an integrated perspective. Our focus was to provide timely assistance to Taiwanese academic researchers and science and technology policy-makers in updating information related to this topic. This study used a factor model that combined models of technology, intellectual property management, and business management to discuss relevant managerial decision-making combined with practical implications and concrete suggestions to provide a better model for Taiwanese academic researchers and policy planners.