Licensing Process

Posted September 6, 2011 - 5:14pm

In negotiating transactions with industry partners, we take into consideration the business needs and constraints of those partners. Consequently, flexibility is required in negotiating transactions so that the objectives of both parties are met.

In addition, the following outline highlights some of the topics that are discussed early in the licensing process:

First Licensee Meeting/Discussion Agenda:

  • Licensee’s objectives, needs and constraints
  • Vanderbilt’s objectives, needs and constraints: 
    • Commercial development for public benefit
    • Constraints associated with federally-funded intellectual property
    • Share in financial return from our investment
    • Management of potential conflict of interest
  • High-level discussion regarding terms of License:
    • Field(s) of use
    • Exclusivity
    • Duration
    • Sublicensing
    • Reimbursement of patent fees
    • Royalties (royalty rate, minimum payments, etc.)
    • Equity (if a start-up company)
    • Diligence milestones (from business plan/development plan)
      1. Working prototype by xx/xx/xx
      2. Product available for sale by xx/xx/xx
      3. First commercial sale by xx/xx/xx

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