The findings of this research reveal that commercialization and corporatization have affected professors’ academic freedom in Taiwan to some extent in terms of how and what professors do in teaching, research, and service, even if the tradition of university autonomy and academic freedom pose a strong countering force. Like well-known universities in the USA, University T in Taiwan is not spared from the influence of commercialization and corporatization, although the extent of their influence on academic freedom does not seem to be very significant. Our research finds that commercialization and corporatization have both positive and negative impacts at University T. On the positive side, more funds and resources can be generated through these processes to improve facilities and equipment. Partnerships between university and industry provide opportunities to combine theory and practice and are conducive to social progress. On the negative side, teaching is de-emphasized when professors focus on competition for resources and publication in international journals. Local studies may also be overlooked. In addition, there is a tension between the nature of the role of an academic and the role of a business entrepreneur.