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Commercialization Pathways - License
A license is the primary vehicle by which companies acquire rights to intellectual property owned by the University. A license can be exclusive or non-exclusive, can be to all the applications of a technology or just a specific field of application and generally lasts for the length of the patents protecting the technology.
Because a license creates such a long-lived relationship, it is a lengthy document and tries to anticipate the things that can go wrong in the development of the technology and provide protections and solutions.
From a business perspective, the most important parts of a license are the “Due Diligence” sections, which address the effort that the company will make to develop the technology, and the financial sections, which specify how the University (and the inventors) will share in the success of the product or service that results from our technology.
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