University Patents works to transfer technology between research universities and preexisting businesses through the licensing or patents.
Many universities have a technology transfer office that helps bring university-generated research/patents to market. Some universities have been very successful in this area, such as Stanford, U of Wisconsin or MIT. However, most universities lack the network and workforce necessary to place most patents. Universities have traditionally focused their attention on the patents that are likely to bring in significant sums of money. However, only 0.6% licenses generate over $1,000,000 in annual royalty payments. University Patents has the ability to not only assist the universities in placing technology but, due to the singular focus of the company, also increase the revenue to the university by increasing the number of licenses written. University Patents will generate income by taking a commission off each successful placement.
Many patents that are the result of university research cannot be used to support a business. They are most valuable to existing companies already in a market that can use new technology to increase a product line or slightly diversify their business into a market in which they have an expertise. Due to their small size, Venture Capital firms and universities are reluctant or unable to place these patents. University Patents will be able to focus on these smaller patents and the business will depend on bringing several of these patents to market per year.
University Patents’#8217 business will be based on working with multiple universities to place their technology-patents with corporations. University Patents will study the market and develop a value-model to identify potential licensees. University Patents brings these parties to negotiation. The commission will be based on any future royalties and the licensing agreement.
First year goals:
- Create firm relationships with four university programs in the first year.
- Four patents are to be taken to market in the first twelve months.
- Establish a contact procedure for approaching private and public business within the first six month.