Here’s a brief look at the agenda:
- Why do licenses fail – is it the technology? Was the company not a good fit?
- What can we learn from this and how can it be leveraged for the future of the tech?
- Actions before the failure:
- Diligence
- Compliance
- Potential
- Contractual terms to help the university in the event of failure:
- Reporting obligations
- Termination terms
- Getting the IP back:
- What you can learn from the company’s failure
- Getting improvements back
- Ramifications for public vs private universities
- Dissect two case study examples for lessons learned
The relationships between TTOs and their licensees can be complicated. This is particularly true when those licensees are faculty start-ups born within the university system and their leadership teams still hold positions in the university and continue to disclose inventions to the TTO. It’s important to keep a positive and respectful relationship, but when the licensee is unable to fulfill its obligations, things can get sticky. And with all licensees, faculty founded or not, disappointing performance or lack of progress can give rise to difficult conversations – and difficult decisions.
Some situations, like failure to reach a specific milestone, should be detected early on and be dealt with in a supportive fashion. But when a licensee becomes insolvent, fails to pay royalties, or goes missing when reports or fees are due, trust wanes and the relationship — not to mention the future of the university’s IP — can be put in jeopardy.
That’s why we’ve tapped leaders from the licensing team at the University of Louisville to present this practical webinar.
During this one-hour program, our team of presenters will detail what factors contribute to licensee difficulties and failures — and how to mitigate the fallout.
