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Process Overview
As part of its mission to move inventions created by the UW System researchers to the marketplace, WiSys offers assistance to faculty and staff who wish to start new companies with technology licensed from WiSys. This section describes the process and procedures that faculty entrepreneurs typically follow in obtaining a license to technology from WiSys in order to start a company. Fundamentally, WiSys must receive an acceptable business plan and a start-up application from your company for approval by its Board of Trustees before license and equity agreements can be finalized.
Some faculty entrepreneurs and their business partners may be able to submit a full business plan relatively quickly, while others need more time to fully assess the company's feasibility and build a solid plan. Whatever your circumstances, WiSys's licensing staff will help you navigate the steps below as quickly and efficiently as possible.
Steps to Obtaining a License
- Inventors discuss company's feasibility with WiSys licensing manager and outside professionals.
- Company enters into standstill agreement on the technology with WiSys (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 WiSys's internal start-up committee and approval by its Board of Trustees.
- Board approves finalization of license and equity (if applicable) agreements between WiSys and company.
- Company and WiSys finalize the terms of agreements.
- License and equity (if applicable) agreements executed.
- WiSys and company monitor agreements, meet obligations and milestones (ongoing).
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