So, why is it important to licence your work?
- A patent license grants another party certain rights in return for a fair compensation to the University and its researchers.
- CTT UB negotiates license agreements on a case to case basis in order to make the most of the business opportunities for all the parties involved.
- The way from university research to creating a commercial product is often long. This is why it is so hard to determine in advance the value of an idea. A patent license agreement establishes a relationship in which both parties share the benefits and the risks.
- The License can be exclusive (granted just to one partner) or non-exclusive (granted to multiple partners) and limited to certain fields or territories, depending on what is best for each individual case.
- CTT UB requires that the licensees remain committed to the commercial development of the idea or that they return their license, in order to prevent competitors from blocking university research.