Program agenda:
- What is “know-how”?
- How to define “know-how”
- Who owns know how?
- How to value know-how
- Audits and how to track use
- Trade secrets and confidentiality concerns
- Sample agreement clauses
- How and whether to enforce rights in know-how
- Managing the relationship and other practical concerns
University-based start-ups and other licensees often enjoy a close relationship with the faculty inventor of the technology the company or license was based upon. Whether or not a formal consulting agreement is in place, these companies tend to rely on the researcher to provide information as needed to help further the technology. This know-how, along with data and other information, can be crucial to the growth of the company and should be valued as such. While IP licenses address the patent, ownership and practicing rights of an invention, the PI’s “know-how” is usually ignored simply because assigning an actual dollar amount to information inside one’s head is tough to calculate — and can be even harder to negotiate.
But, ignoring it can cost you big money in the long run as a growing number of universities – who routinely incorporate know-how into their licenses – can attest. By aggressively negotiating these know-how rights, TTOs are capturing literally millions of dollars that would otherwise be lost. At the same time, they’re cementing valuable relationships with companies and supporting the progress of their innovations to the marketplace.
That’s why we’re teaming up with two attorneys who will teach you how to value know-how, how to draft a royalty schedule for know-how, and how your negotiation can maintain the financial integrity of know-how while enjoying a positive, collaborative relationship with the licensee.