Licensing Your Technology
A license is a permission that the owner or controller of intellectual property (IP) grants to another party, usually under a license agreement. License agreements describe the rights and responsibilities related to the use and exploitation of the IP. University license agreements usually stipulate that the licensee should diligently seek to bring the intellectual property into commercial use for the public good and provide a reasonable financial return to the University.
Many licensees require the active assistance of the inventor to facilitate their commercialization efforts, at least at the early stages of development. Working with a new business start-up may require a substantial amount of the researcher's time. In addition, the researcher's participation with a start-up is governed by University conflict of interest policies.
Marketing Your Technology
With the researcher's active involvement, the Duke Office for Translation and Commercialization (OTC) staff will identify candidate companies that have the expertise, resources, and business networks to bring technologies to market. This may involve partnering or licensing the technology to an existing company or forming a start-up. The majority of licenses result from contacts that the inventor or OTC have already made.
Duke Office for Translation and Commercialization (OTC) Revenue Distribution Plan
Please review OTCs Revenue distribution plan (RDP) for understanding how income from the commercialization of inventions is distributed among inventors, labs, departments and schools.
OTC is responsible for managing the expenses and revenues associated with technology agreements. Per University Policy, revenues from license fees, royalties and equity—minus any unreimbursed patenting and file expenses—are shared with inventors. Under University Policy, inventors who receive equity from a licensee are permitted to share in revenues received by the University from the associated agreement. License revenues are typically taxed as Form 1099 income. You should consult a tax advisor for specific advice.