Costs & Royalties – The University recognizes that most start-ups and small businesses need to preserve cash to fund research, development, and marketing expenses. Accordingly, the negotiated terms of every license considers the financial needs of the licensee and positions the University as a partner in the business. However, it is important to recognize that the University has a fiduciary responsibility to the inventors and to the State, and expects to receive remuneration consistent with the value of its technology contribution and in line with comparable industry terms.
Scope of License – In addition to retaining the nontransferable right to make, have made, and use the licensed product, and to practice the licensed process for its own internal non-commercial research and educational purposes, the University reserves the right to limit the field of use and territorial scope of the license to those areas where the licensee can effectively develop and market products. It is the University’s intention to license available fields of use and territory to other licensees.