What obligations does a licensee have to develop an invention?
Terms are written into each license to encourage the licensee to commercialize Southwestern’s intellectual property. Often these are financial terms requiring the licensee to pay reissue fees and/or milestones in the event the licensee fails to sell a product or products within a specified time period. Also, UT Regent’s Guidelines on Intellectual Property License Agreements require that licenses include grant back provisions in the event a licensee fails to develop and commercialize the intellectual property.
