When assessing prospective licensees, we consider their existing product lines, production and marketing capabilities, and financial status. This process usually yields one or two firms that are both interested and qualified.
We then negotiate mutually beneficial license agreements with the firms. Terms covered in the license include upfront fees, royalties, license maintenance fees, commercialization milestones, and specific intellectual property rights.
After licensing the invention, we monitor licensees to ensure they meet commercialization milestones, and submit timely payment of any fees, royalties, and reimbursable expenses. We also monitor and litigate any non-licensed use.
UVM policy determines distribution of licensing revenues. See section 4.1.5 in the UVM Intellectual Property Policy Statement (PDF) for current distribution guidelines.
