Below is a list of the steps faculty entrepreneurs typically follow when obtaining a license to WARF technology for the purpose of starting a company. These steps are explained in greater detail throughout this section.
As you read through the section, keep in mind this fundamental requirement: WARF must receive an acceptable business plan and a start-up application from your company for approval by the WARF Board of Trustees before license and equity agreements can be finalized.
Steps to Obtaining a License
- Inventors discuss company's feasibility with WARF licensing manager and outside professionals.
- Company enters into standstill agreement on the technology with WARF (optional).
- Company completes full business plan and start-up application; establishes itself as legal entity.
- Company submits business plan and start-up application for review by WARF's internal start-up committee and approval by its Board of Trustees.
- Board approves finalization of license and equity (if applicable) agreements.
- Company and WARF finalize the terms of agreements.
- License and equity (if applicable) agreements executed.
- WARF and company monitor agreements, meet obligations and milestones (ongoing).
