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Streamlined Licensing

Startup licenses have a number of unique components. In order to facilitate discussions with our startup teams, CoMotion has created a process and set of documents that describe the elements and requirements for startup license discussions. We have created standard templates for the startup term sheet and license and an explanation of the terms within the templates. The simplified and standardized terms of this license template have been vetted by a panel of attorneys from several local law firms. Through our Innovation Development managers and advisory boards we provide the startup teams with background information on the various parts of the license agreement. See our Licensing FAQs

Financial Term Sheet Process

In keeping with University of Washington’s pride in being a public university, CoMotion is committed to a fair and transparent process that treats all UW startup teams* equally, whether founding teams are comprised of new students or award-winning senior professors, and independent of the experience level of their business person or lawyer. This ensures each UW startup team is able to finalize their license agreement efficiently, with minimum legal fees, and with confidence that the terms in the license are both standard for their industry sector and investable. The term sheet includes standard financial terms for university startup licenses that have been vetted, are comparable with our peers, and based on sector-appropriate comparable data. CoMotion welcomes teams to bring their own industry-specific data to the discussion. Finalization of the term sheet is a data-driven process that ensures all stakeholders are considered. See our Term Sheet Negotiation Process.

*UW startup teams are those founded by the UW students, professors, and employees that developed the innovation.

Agreement Template

Our CoMotion agreement template is tailored for startup companies based on University of Washington intellectual property. This template was put together with the generous guidance and comments from an expert advisory committee comprised of top attorneys in the Seattle-area innovation ecosystem who pre-negotiated the language with the goal of creating an agreement that requires only technology-specific customization. This new template simplifies and expedites the licensing process for our UW innovators and entrepreneurs and demonstrates a collaborative effort towards streamlining and enhancing our innovation ecosystem.

CoMotion would like to sincerely thank the start-up template advisory committee members for their participation and support: Sonya Erickson, Cooley; David Clarke, Perkins Coie; John Steel, DLA Piper; Joe Wallin, Carney Badley Spellman; Craig Sherman, Wilson Sonsini Goodrich & Rosati; and Parag Gheewala, Wilson Sonsini Goodrich & Rosati.