Page 8 - 2020 Startup Guide

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To ensure fair and open access to potential licensees, OTD markets
all FAU innovations, including those with start-up interest. Broad marketing helps the university find companies who may be interested in developing the innovation and helps to mitigate and manage conflicts of interest if the innovation is licensed to a start-up.
The marketing period typically lasts 1-3 months before OTD selects a licensee (if there is any commercial interest at all). Sometimes entrepreneurial researchers receive valuable industry feedback and begin to establish relationships with potential partners during this stage.
6. Licensing
To choose the best licensee, OTD evaluates which company is in the best position to develop the innovation and bring it to market. To assess the commitment of potential licensees, OTD asks companies to provide a business plan with details about how they intend to develop and market the innovation. This plan should make the case that the company and its leadership are the best choice for commercializing the innovation.
When FAU faculty, staff, or students are involved in a start-up company, licensing to that company can raise concerns about conflicts of commitment and conflicts of interest. The university needs to maintain an arms-length relationship in all its business transactions (including license negotiations). The final license agreement must fall within the normal range of terms and conditions of similar licenses to non-FAU-associated companies. OTD cannot conclude any agreements until the appropriate conflict of interest reviews and approvals are completed.
7. Commercialization
Most university innovations are very early stage and require further research and development efforts. The licensee typically makes significant business investments of time and funding to commercialize the product or service. These steps may include regulatory approvals, sales and marketing, technical support and training, and other activities. The licensee will be expected to meet commercialization milestones described in the license.
It is fairly common for licensees, particularly early stage ventures,
to evolve their strategy and development plans as the company grows, faces technical challenges, and recognizes new market opportunities. OTD can work with licensees to amend and renegotiate license agreements in response to these changes if the request and reasons to renegotiate are reasonable.