Through licensing, companies can have access to state of the art technologies, affording them an opportunity to improve economic competitiveness in the world economy. Finally, license proceeds, such as royalties, provide additional funds for the University's education and research mission. Institutions are encouraged by government sponsors to license inventions to commercial parties to ensure that the results of federally sponsored research reach the public. Targeted marketing of the technologies available for license and faculty contacts are the primary source of license opportunities. The inventor will have an opportunity to comment on license drafts.
Every effort is made to take into account the comments of the faculty.
Each license is a negotiated transaction, however, so usually neither party gets everything it wants. The object is to have a fair, reasonable agreement to govern a long-term mutually advantageous relationship. In addition, University policies on publication, conflict of interest and research integrity, among others, are observed in the negotiation and implementation of a license arrangement. Yes, a license can be nonexclusive which means several companies have license rights to a technology. An exclusive license provides that only one company has rights, excluding all others.