Patenting & Licensing Process
If a technology is a platform on which could be built multiple commercial products, it could form the basis for a new company. The MCW Office of Technology Development (OTD) actively seeks platform level technologies and will consider licensing requests from faculty inventors who desire to start new companies using the technology that they have created. Start-ups create institutional value and help grow the local economy in Southeastern Wisconsin. Since 1984, OTD has been involved in the creation of eleven affiliated companies. Click here for the descriptions of the companies formed around MCW technology.
Although under no obligation, OTD is often willing to license technology to a start-up company, provided that the scientific founders, management and inventor(s) demonstrate a clear commitment and ability to develop the licensed technology. OTD will, under a Standstill Agreement, refrain from licensing the technology for a prescribed period of time, while the groundwork for launching the company is completed. This includes the development of a business plan, assembly of a qualified management team, identification of sources for initial seed financing, and the setting of significant operational and financial milestones. Upon request, OTD can provide a list of professional contacts in areas such as business plan development, venture capital, and business law to assist the faculty, inventor(s) and the other principals launch the company.
Once the necessary steps are completed, OTD will negotiate a license to the technology with appropriate representatives of the start-up company. The terms for the license typically include a license fee, payment of past and ongoing patent costs, minimum annual royalties, equity, and other considerations.