Once we find a company that wants your innovation, we negotiate a license. This process can take anywhere from weeks to (more likely) months. During this time, there is usually little input that we need from you and, for the most part, we ask you to let us handle it.
In some cases we sell, but most often we license. A license is the best way to ensure that we meet our obligations (e.g., Bayh-Dole Act ), that you maintain the ability to use the innovation in your research, and that everyone receives fair value.
We are as flexible as possible when negotiating. We know you’re excited that a company wants your innovation and that you’re eager for us to close the deal. Rest assured that we will do what it takes to find a fair arrangement that works for everyone.
Some terms are simply nonnegotiable. As representatives of CSU, we have an obligation to protect you and the University. We always:
- Preserve your right to use the innovation in your academic research and education
- Require indemnification of you, CSU and CSU Ventures
- Offer the innovation without warranties of any kind.