Page 12 - Innovator Handbook

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.
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.
8. Royalties
Royalties received by the university from licensees are distributed semi-annually to individual researchers, departments and colleges. All researchers will receive their individual share of royalties as outlined in the FAU Intellectual Property Policy.
9. Reinvestment
Royalties that are shared throughout the university collectively foster
the creation of the next generation of research and innovation at FAU.
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