Licensing & Sale of IP
The sale or licensing of IP to third parties is usually the preferable route to monetise the IP, unless the inventor has an interest in starting a company to commercialise the IP. The revenues generated through the sale or licensing transaction is shared between the inventors and the university, in accordance with the university’s IP policy and in alignment with the IPR Act and Regulations.
UKZN InQubate will work with you with to identify potential licensees and negotiate the terms of licensing taking into account the following:
Software, design, copyright, trade secret, patent, trademark, music, song etc.
Term, termination, releases, diligence (performance), records and reporting.
Geographical, FieId of use.
Annual minimum Royalty Rates.
Degree of exclusivity
Non-exclusive, perpetual, exclusive, sole, right to sublicense.
Improvement Rights; Right to enforce Patents; Assignment rights.