FOR NORTHWESTERN INVENTORS

 

About Licensing

 

OUR PROCESS

1. Inventor discloses an invention to Tech Transfer @ Northwestern

2. Tech Transfer assesses invention and determines if a patent application should be filed

3. Tech Transfer markets such inventions by

1. sending non-confidential abstracts to targeted industry
2. holding special presentations for potential licensees

4. Licensing negotiations are managed, maintained and monitored by Tech Transfer

Conflict
of Interest
Confidentiality Agreements

 

LICENSES

Licenses may extend for a few years or for the life of patents. Important license provisions include:

1. - the University's right to take back the technology if the licensee is not aggressively pursuing its development
2. - reimbursement to the University of all patent costs to protect the licensed technologies
3. - financial terms including a license fee (or "up-front" payment) and equity in the case of spin-off companies
4. - minimum annual royalties
5. - royalties on net sales of products

Occasionally, a company will want a short-term, exclusive option for a license while either it or the inventor conducts further tests of an invention's efficacy. Success of a license agreement depends on both parties satisfying some basic goals.

For example, the inventor and the University must be assured that the technology will be diligently developed for public use, and Northwestern will receive an equitable share of the financial rewards resulting from the invention's commercialization. The licensee, in turn, should have sufficient rights to develop a product that will be profitable for a certain period of time. License agreements are negotiated, maintained and monitored by Tech Transfer @ Northwestern.

 

More on Agreement Negotiations

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