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Three Easy Steps to Adopting a University Technology Licence

We sometimes get asked by CEO’s or Entrepreneurs what are the steps required to adopt a university or third level technology licence. At Montana Marketing we know what it takes to develop a new product from an early-stage invention and have experience in adopting such licences. It is a delicate balance and must be a win-win for both parties to have a successful outcome. We have outlined a three step process to ensure a smooth transition.

Step one  to Adopting a University Technology Licence

Examine the 3 “C.”

Before one submits a Licence Application to the university or third level in question the three “C’s” must be examined. These are;
The Customer
The Competition (i.e. the marketplace) and
The Company (i.e. your company)
There are many questions within “C” to be answered but at a high level here are a few;

  • What are the development timelines, milestones, and revenue projections?
  • How will you develop the technology into a market-ready product?
  • What market and industry research has been conducted?
  • Which risks are involved in this technology development?
  • How will the technology fit with your current priorities?

Even getting the answers to these and other similar questions it is a big step for the entrepreneur or for the company executive taking on a new technology. Getting an independent external perspective is advisable, a commercial company such as Montana Marketing provide key information to help evaluate the “fit.”


Step Two to Adopting a University Technology Licence

Draft a Term Sheet

If you choose to pursue a particular technology, then you must go through that universitie’s / third level’s application process to apply for a license. Examine that process and then draft an initial term sheet to serve as the basis for a signature license. This term sheet may include:

  • Exclusivity
  • Field of use
  • Grant of rights
  • License issue fees
  • Milestone payments
  • Minimums
  • Royalties
  • Sublicensing provisions

A term sheet will then form the basis for the license agreement using the term sheet and the university’s required legal terms. Once all agree on the final language a licence is signed.


Step Three to Adopting a University Technology Licence Develop,

Market and Sell

A signed license agreement lets you begin developing your product. Again it is advisable to have an independent commercial company check-in as you progress to make sure the technology performs well in your environment.