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The University of Delaware TTC is organized to make licensing easy and convenient. An experienced technology transfer professional will work with you to showcase the technology of interest and draft an agreement to meet your specific licensing needs. In order to determine your company's interest to bring the identified technology to the marketplace, the professional with work with you to obtain answers for the following questions:
- Does your company exhibit satisfactory interest in commercializing the technology?
- Which territories, fields and areas of application does your company desire to develop the technology?
- Does your company have the necessary skills, resources and capabilities to develop the technology?
- Does your company have a clear intent to bring the technology to the marketplace?
- Is your company willing to share fair value for the technology by paying back reasonable royalty on the sale of products to the University?
- Confidential Disclosure Agreement (CDA): - This agreement enables the sharing of confidential and sensitive information between parties.
- Option Agreement: Provides your company with the right to evaluate a technology for a limited period of time (option period) during which our office keeps open the availability of a license to your company. A standard onetime fee is usually charged.
- License Agreement: gives the company rights to use, commercialize and sell products emerging from the technology.
In due course, some of the agreements most frequently used by our office during the licensing process include:
A typical license agreement includes the following elements:
- Scope of License Rights (Exclusive vs. Nonexclusive)
- License Fee
- Patent Reimbursement
- Development Period and Diligence
- Minimum Royalty
For more information about licensing University IP, please contact OEIP's Technology Transfer Center.