Some licensing terms and definitions you may come across in the process are listed below.
Licence Agreements: A license agreement gives you rights to develop a University technology towards commercialisation.
Material Transfer Agreement (MTA): MTA’s let you transfer a copy or version of a universities’ material to your lab for further evaluation and development.
Non-Disclosure Agreement (NDA): After you contact a University technology department, they may draft an NDA. This document keeps confidential information, such as unpublished patent applications and unpublished scientific data, between the parties that share it. Non-confidential information, such as published patents, published research articles, and marketing summaries, does not need an NDA.
Term Sheet: A term sheet is a nonbinding document that captures the business terms of your agreement with the University around technology.