Page 32 - Innovator Handbook
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License Agreements
What is a license agreement?
A license agreement is a legal document that describes the rights and responsibilities related to the use and exploitation of intellectual property. FAU license agreements usually stipulate that the licensee must diligently seek to bring the FAU intellectual property into commercial use for the public good. The agreement also seeks to provide a reasonable financial return to FAU.
How is a licensee selected?
A licensee is chosen based on its ability to commercialize an innovation for the benefit of the public. Sometimes an established company with experience developing related products in similar markets is the best choice. In other cases, the focus and dedication of a startup company is a better option.
