For BGSU Employees and Students
BGSU encourages its faculty, staff, and students to actively participate in research and development and OTTS is supportive in commercializing and protecting the innovations when reported as per the requirements. Through the Technology Transfer Process, OTTS after seek to identify existing established company or new start-up to commercialize BGSU innovations. There are several options available for external partners to gain access to BGSU innovations. See the For Business or Industry section for more details.
If a BGSU faculty or staff member is interested in creating a new start-up company to commercialize a BGSU innovations, we encourage you to contact OTTS as early as possible to discuss the process and requirements included in BGSU Commercialization Policy. An overview of the process is listed below:
Licensing for BGSU Employees
- Employees must first obtain approval from their department chairs, school or center directors, and deans or other appropriate supervisors.
- The Vice President for Research and Economic Engagement (VPREE) is responsible for negotiating the License Agreement and assisting faculty in identifying, managing and eliminating conflicts of interest, and in developing Conflict of Interest Management Plan (COIMP) in consultation with the Patent Advisory and Technology Development Oversight Committee (PAC).
- The Commercialization Company must provide the VPREE with a due diligence review as evidenced by the following:
- a capitalization plan demonstrating access to funds necessary for company growth;
- a proposed management team;
- milestones for product development and commercial sale;
- a periodic review of progress within a timeframe identified at the time of negotiation;
- revisionary rights for the institution when company fails due-diligence after a mutually agreed-upon period of time.
Note: A full business plan is not needed. A business overview document will be sufficient.
- Patent Advisory and Technology Development Oversight Committee (PAC) serves as the Review Committee for COIMP and terms of the License Agreement and makes written recommendations to VPREE.
Per the BGSU Patent Policy, the President, after receiving the advice of the Patent Advisory and Technology Development Oversight Committee (the written recommendation provided to VPREE), and after reporting to the Board of Trustees, is authorized to act on or reject the PAC’s determinations, to license patent rights to the Start-up company for such consideration/upon such terms and conditions.
- BGSU is open to license available technologies and innovations to start-up companies based on the parameters mentioned in the above sections. There are potentially several options for licensing: Option Agreement, Non-Exclusive License or an Exclusive License.
An option agreement typically gives a company the exclusive right to evaluate a technology for a short period of time prior to executing a full license agreement. In most cases, the option agreement requires the company to reimburse BGSU's patent expenses. BGSU has established a pre-approved template Option Agreement.
PLEASE NOTE: Before a license can be executed to allow a BGSU employee to commercialize a BGSU innovation, a company must first be formally created, and the preference is that the license will be negotiated by the companies legal representation or a member of the company that is not a BGSU employee. BGSU employees are required to abide by BGSU’s Commercialization and Conflict of Interest policies. The Ohio Secretary of State has provided Information on Starting and Maintaining a Business.
Updated: 08/07/2019 02:22PM