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The first of the great medieval universities was established at Bologna. At the beginning, universities predominantly offered a kind of do-it-yourself publishing service.
Books still had to be copied by hand and were so rare that a copy of a widely desired book qualified for being invited to a university. Holding a lecture equaled to reading a book aloud, like a priest read from the Bible during services. Attending a lecture equaled to copy a lecture word by word, so you had your own copy of a book, thus enabling you to hold a lecture, too.
For further details see History of the Idea of a University,