If an existing company expresses interest in finding out more about the technology, we start the discussion. Once a potential licensee is identified, our office will negotiate a license agreement with mutually agreeable business terms. The university has developed a license agreement template that, if used, may speed up the review and approval process as it has been drafted to avoid provisions to which the university cannot agree. The license allows the companies to use the invention in exchange for a license fee and royalties to the university.
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