Obtaining a License to University Owned Technology
Licensing University-Owned Technology
The license must be executed in accordance with the universty's mission. The follow are general principles that must be followed:
- Researchers will have freedom to publish and disseminate research results.
- Agreements will allow University researchers to utilize the results of their research for education and future research
- University researchers shall be aware of their intellectual property (IP) rights and obligations in any arrangement.
- Agreements shall be consistent with all applicable laws and regulations.
- Full Direct and indirect costs of sponsored research will be recovered.
- Commercial rights will be transferred at fair market value.
- Students should be involved in university research to the extent practical.
- Agreements should in no way hinder a student's academic progress.
Steps to obtaining a license
Contact the TTC. The TTC will:
Ask you for supporting documentation and information including but not limited to the following:
- What is your plan for the technology?
- Do you have a commercialization plan with a milestone schedule?
- Are you an established company or a startup?
- A checklist for startup companies is coming soon.
- Company background information: What is your market, expertise, stability, etc.?
- Are there any conflict of interest issues with any of our students, faculty, or staff?
After information is gathered, the IP committee will meet to discuss and vote on the next action. More information may be requested. Once all the needed information and approvals are obtained, the agreement terms will be negotiated and finalized.
Exclusive licenses require approval of the university president and may require more time.
The agreement will contain, but is not limited to the following elements:
- An upfront fee
- A reasonable royalty rate
- Reimbursement of legal costs related to patent filing
- Commercialization milestones
- Minimum annual royalties
- Field of use limitation
When the parties come to an agreement on license terms, the agreement will be finalized and necessary signatures obtained.