Written by TODD CLELAND / June 17, 2016
The University of Washington is launching a new “pre-packaged” intellectual property (IP) program for sponsored research to make it easier for businesses to partner with UW in transforming discoveries into innovative solutions.
The new Washington Innovation Advantage allows industrial sponsors and UW researchers to opt into set financial terms for non-exclusive or exclusive commercial licenses to intellectual property upfront, when the sponsorship agreement is negotiated. Companies can license intellectual property before a project begins, streamlining execution of sponsored project agreements, reducing financial uncertainty for sponsors, and minimizing time spent on licensing negotiations.
While the UW College of Engineering’s interest in partnering with industry was a key driver of the Washington Innovation Advantage program, other UW schools are equally excited about the new program’s potential.