But now, away from the academic setting, that may no longer be the case. For example you may have found a new use of a patented product. You may require or want to use a patented reagent, method or device to develop a clinical product, for example, a screening assay to identify a bioactive small molecule. You may have intellectual property which you are not interested in exploiting or cannot exploit. You may believe that your research qualifies under a recognized "safe harbor" of infringement, such as work destined for submission to a regulatory agency for product approval.
Those are but some of the reasons you may want or may need to consider licensing property, whether yours out of your company or that of another into your company. Licenses, as with any contract, come in a variety of forms that can carry a variety of terms and conditions. The license can be exclusive in toto, exclusive for a particular product, exclusive for a particular indication, exclusive for a particular geographic region and so on, or can be non-exclusive for all or any part of the property claimed in the patented property licensed. Fees can be front-ended or back-ended, there can be an initial licensing fee, an annual fee, including milestones and negotiated royalty rates, which are common financial considerations.
MDIP LLC can assist you in those transactional efforts. We can draft term sheets, draft licenses, review and edit drafts and negotiate licenses on your behalf.