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Issues to Consider before Licensing Technology to a Start-Up: Mitigating Risk with Early Planning for the Entire Business Cycle

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Title: Issues to Consider before Licensing Technology to a Start-Up: Mitigating Risk with Early Planning for the Entire Business Cycle
Language: English
Authors: LaBarge, Jeffrey H.
Source: Industry and Higher Education. Aug 2005 19(4):307-314.
Availability: IP Publishing Ltd, Coleridge House, 4-5 Coleridge Gardens, London NW6 3QH, UK. Tel: +44 20 7372 2600; Fax: +44 20 7372 2253.
Peer Reviewed: Y
Page Count: 8
Publication Date: 2005
Document Type: Journal Articles
Reports - Evaluative
Descriptors: Planning, Certification, Technology Transfer, Information Technology, Higher Education, Business, Risk, Industry
ISSN: 0950-4222
Abstract: If done correctly, licensing technology to a start-up company provides a great opportunity for a university to commercialize its technology and generate good will. If done incorrectly, however, the venture may jeopardize the technology's value and adversely affect the university's reputation within the business and academic communities. Before licensing technology to a start-up, a university is well-advised to consider the issues that are most critical to the company?s success; that is, those issues that will directly affect the university?s ability to benefit from commercialization of its technology. This article surveys the issues a university should evaluate before licensing technology to a start-up venture. While presuming that the university's technology transfer office has overcome, or at least is aware of, any university-imposed policies relative to taking an equity ownership in a start-up, this article presents a workable framework for identifying the key questions that need to be asked and answered: (1) Why participate in a start-up? (2) Who are the right people for the job? (3) What incentives will motivate the start-up company's employees to perform? (4) What assets will the start-up need to be successful? (5) How will the venture be managed? (6) What is the university's exit strategy?
Abstractor: Author
Entry Date: 2005
Access URL: https://www.ingentaconnect.com/content/ip/ihe
Accession Number: EJ697368
Database: ERIC
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  Data: If done correctly, licensing technology to a start-up company provides a great opportunity for a university to commercialize its technology and generate good will. If done incorrectly, however, the venture may jeopardize the technology's value and adversely affect the university's reputation within the business and academic communities. Before licensing technology to a start-up, a university is well-advised to consider the issues that are most critical to the company?s success; that is, those issues that will directly affect the university?s ability to benefit from commercialization of its technology. This article surveys the issues a university should evaluate before licensing technology to a start-up venture. While presuming that the university's technology transfer office has overcome, or at least is aware of, any university-imposed policies relative to taking an equity ownership in a start-up, this article presents a workable framework for identifying the key questions that need to be asked and answered: (1) Why participate in a start-up? (2) Who are the right people for the job? (3) What incentives will motivate the start-up company's employees to perform? (4) What assets will the start-up need to be successful? (5) How will the venture be managed? (6) What is the university's exit strategy?
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