What happens after a license agreement has been signed?
After execution of the License Agreement, regular contact is maintained with the Licensee and their performance, as well as adherence to the provisions of the license agreement, is monitored by OIPMIL. In many cases, the licensee will fund further research at the School to help in further development of the technology and may also retain the inventor as a consultant. Income received from the Licensee, including any benefit derived from equity, is distributed in accordance with the School’s Intellectual Property policy. The share of income accruing to schools, departments or centers can only be used for research purposes. Often during the term of a license circumstances change and it may be necessary to amend the agreement to take into account new situations. For example, a new competitive technology may enter the market, drastically reducing the market share of the licensed technology; there may have been unforeseen problems in completing development of the product, thereby decreasing
Related Questions
- Is the leave and license agreement generally signed in multiples of 11 months or 12 months? Is there any stipulation when it comes to the total time period?
- Is the leave and license agreement generally signed in multiples of 11 months or 12 months? Is there any stipulation of time?
- What happens after the agreement is signed?
