RIT Intellectual Property Management Office Details Licensing and Technology Transfer Process

The Rochester Institute of Technology’s Intellectual Property Management Office (IPMO) actively encourages licensing and technology transfer inquiries from potential licensees. While some of RIT’s available technologies are showcased in the “Info for Companies” section on the IPMO website, not all intellectual property (IP) assets are publicly listed. Interested parties are advised to contact the IPMO Director directly to request information about specific technologies or IP not displayed online.

Once a particular technology is identified and mutual interest is established, IPMO collaborates with the prospective licensee to draft a non-binding Term Sheet. This document outlines the economic terms of the potential license and includes placeholders for the legal provisions that will be incorporated into the Definitive Agreement (DA), commonly referred to as The License.

The Definitive Agreement formalizes the licensing arrangement and becomes legally binding upon execution by both RIT (the Licensor) and the licensee. Prior to executing The License, licensees are required to submit a Commercialization Plan detailing how they intend to develop and market the licensed technology. Depending on the terms of the agreement, RIT may request periodic updates to this plan to monitor progress.

Economic terms within the license specify how the licensee will compensate RIT for the rights to utilize the university’s IP in their business operations. This compensation covers the licensee’s rights to manufacture, sell, service, and outsource production of products incorporating the licensed IP.

RIT’s licensed intellectual property portfolio encompasses a variety of asset types, including software protected by copyrights, firmware covered under mask-work rights, issued and pending patents, trademarks, and proprietary know-how. The scope of IP included in any license depends on availability and the licensee’s specific needs.

Licenses may grant exclusive rights, limited exclusivity based on defined fields of use, or non-exclusive rights, providing flexibility to accommodate different business models and market strategies.

Both established companies and new ventures (NewCos) are encouraged to pursue licensing agreements to access RIT’s IP, facilitating innovation and commercialization.

For additional information or to initiate licensing discussions, interested parties may contact RIT’s Sponsored Research Services at 585-475-7987 or visit https://www.rit.edu/srs/contact.