The most efficient way to commercialize new technology is to work with an industry partner that knows the market sector and has the resources to develop the new product and/or service. ICO works closely with faculty and industry partners to facilitate technology licenses to enable development of IU technology to develop products and services that will provide societal benefit. Technology development and utilization are primary goals for IU engagement with industry.
What is a licensing agreement?
A licensing agreement is a contract between IU and a company in which rights to the intellectual property are granted, without relinquishing ownership, in exchange for financial and other benefits. An invention can be licensed, exclusively or nonexclusively. IU works with existing companies and startups. Following are common terms for licensing IU technology.
- License grant - Exclusive, Field of Use exclusive or Non-Exclusive
- Term of License
- Field of Use
- Sublicense rights – The university wishes to work directly with technology developers and not just patent assertion or licensing entities. Sublicenses to third parties, are subject to approval from the university.
- Diligence milestones as mutually agreed upon and a development plan that may include commercial goals and dates.
- Payments may include Issue fee, Royalties, Milestone payments, Maintenance fees, Sublicensing revenue, and patent expenses, as applicable
- Retained Rights - University retains rights for educational, research, and patient care and treatment purposes and to permit other non-profit and academic entities to practice and use the same. The U.S. government retains certain rights through its funding of the research that led to the creation or development of the Patent Rights.
- Indemnification and insurance provisions as typical in university license agreements executed by Licensor.
How do I license a discovery?
To facilitate commercializing your discovery, you must first submit an invention disclosure to the ICO.
After you've submitted your invention disclosure, we will work with you to evaluate the commercial potential of your invention.