We market technologies to uncover prospects and refine our offering. Then we negotiate creative agreements with licensees to unleash the power of your ideas.
Your participation as a team member is vital, as both your market contacts and technical expertise are essential for success. We strive to communicate openly to ensure you are engaged and comfortable with the process.
Our Tech Transfer professionals use both your contacts and their own network to identify prospects for your discovery.
Potential licensees often prefer a demonstration of the discovery to appreciate the benefits to their business. This also provides a checklist to reduce any barriers to commercialization and may provide valuable insights into further research and work needed to make your invention market ready. Your role in describing and demonstrating the invention to potential licensees is invaluable in the process.
Although multiple offers for most technologies is rare, selecting the right licensee is important for both you and your invention. We identify your needs as a faculty/researcher and help guide the decision to pursue an existing company or pursue the creation of a startup.
Model & Negotiate
With an understanding of the needs and restrictions of both parties, we model a potential deal and negotiate the agreement.
The final agreement is a license (sometimes preceded by an option that can lead to a license). The agreement includes financial parameters and commercialization requirements (sometimes paralleled with a research agreement) to ensure progress is being made to bring your invention to market.
The license agreement is just a first step in a long-term relationship with the licensee. Your Tech Transfer professional will keep you connected to the licensee, manage changes to any appropriate license terms to adjust to market conditions, maximize the chances of market success, and ensure the licensee is diligently developing your invention.