University Patents seeks to transfer technology from research universities to preexisting companies via the licensing of patents.
Most universities have an office of technology transfer that is responsible for bringing the research/patents generated by the university to market. Some universities are very effective in this area (i.e., Stanford, U of Wisconsin, MIT), but most lack the work force and network to place most patents. Universities traditionally focus on the patents that will bring in substantial amounts of money, yet only 0.6% of licenses generate in excess of $1,000,000 in annual royalties. 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.
Most patents generated by university research are not, by themselves, able to sustain 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. The small size of these patents mean that most Venture Capital (VC) firms are not interested in these patents and the universities are reluctant to spend time trying to place them. 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' business will be founded on working with several universities to place their technology patents with corporations. University Patents will research the market, develop a value model and identify potentials licensees for the patent. University Patents will bring these parties to negotiation and will receive a commission based on the licensing agreement and any future royalties generated by the patent.
1.1 Objectives
First year objectives:
- Create firm relationships with four university programs in the first year.
- Move four patents to commercialization in the first year.
- Develop a contact process for approaching public and private business in the first six months.
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