The University of Georgia now offers companies sponsoring research three additional ways to license intellectual property developed in the course of their research collaborations. The new program, Industry Express, makes negotiating research agreements a faster and more transparent process that also eliminates uncertainty about licensing costs.
The three Industry Express agreements offer companies an exclusive license in each case, with flexibility for the duration of the license and the payment terms. Each alternative includes a defined-upfront license fee set at a percentage of the total sponsored project budget, which means companies know exactly how much it will cost.
Many industry collaborators are familiar with the traditional option, which is still available. With the traditional agreement, there is no upfront fee, and sponsors have exclusive access to negotiate patent rights for up to six months after project completion.