If the patent had been applied for before the paper was written, it would probably say in the paper. But it might have been patented AFTER the paper was written, so you'd best look up the authors at the USPTO website.
I am not a lawyer, but I don't think there is any license at all on algorithms that are published in academic papers. There would be a license on software that was produced by an academic institution, but that's a different thing.
However, what Academia just about always cares about more than licensing is getting proper credit for their discoveries. Thus you should credit that paper's authors and their institution in your app's About Box (if it has one), in the online help if it's a command-line program, or on your app's website if it's a web app. Also credit them in your documentation.
Finally email the authors to tell them that you are using their algorithm. The chances are pretty good that they didn't expect to make money from it, but the fact that their invention is being put to good use in industry will help them get grants, advanced in rank (say from associate professor to full professor) or maybe even get tenure.
I have seen an academic source code license that more or less says you can do what you want with the code provided the original authors get visible credit for their work. To do otherwise would be just like using their paper's results in your own paper without providing a citation, which is a form of plagiarism.
