ILO uses its industry contacts and website to disseminate information about your invention. In addition, people in the industry occasionally contact us to look for new research and invention available for licensing.
The inventor is often the best lead to people in the industry who may be interested in his or her research work. In a recent survey in the US, 50% of successful licensing deals start with leads from the inventor.
The Technology Offer Sheet is an important document to secure the initial interest of potential licensees. When such interest is expressed, ILO will arrange for a Confidential Disclosure Agreement to be signed. With the agreement, you may proceed to give full technical disclosure.
This is a short summary sheet describing what your invention will do. The disclosure is written in such a way that it will not affect your patent application (i.e. a non-enabling disclosure).
It should also highlight:
- Advantages of the invention over competitive products/technologies;
- Deficiencies of current technology the invention can overcome; and
- Potential commercial applications.
- An enthusiastic inventor who champions his or her invention.
- A product champion or industry person who pushes for the invention and speaks on behalf of the inventor during company discussions.
- Persistence from all parties.
The inventor plays a key role in identifying the product champion. This includes hosting laboratory visits for the product champion and visiting the company to help cement personal relations and build up interest in the invention.
The experienced specialist at ILO will negotiate for the licensing terms in consultation with you.
There are no standard licensing terms. Each invention is different; so is each license. We tailor the licensing terms to the needs of the licensee while ensuring fair and equitable terms for NUS and our inventors. The terms typically include:
- Upfront fees and milestone payments to NUS;
- Royalty to NUS;
- Warranty disclaimer by NUS; and
- Indemnity requirement on the company to protect NUS from product liability.
For all licensing agreements signed on or after 1 September 2000, royalties are shared as follows:
- 50% of Net Royalty* for the inventor
- 30% of Net Royalty* for the Faculty
- 20% of Net Royalty* for the University
* Net Royalty is royalty received by the University after deduction of expenses as defined in the "Rules Relating to Inventions, Innovations and Other Works".