PROCESS OF LICENSING
- EXPLORE: If you are from a company or an entrepreneur (who has plans to establish a technology-based startup), we encourage you to explore our hand-picked inventions (which we have assessed for market) or our large portfolio of Patents.
- NDA: Once you have selected a KFUPM invention, your company can sign a Non-Disclosure Agreement (NDA) so that our inventor can discuss the confidential technical details of the invention.
- BUSINESS PLAN: If you are satisfied with the invention’s market opportunity and are interested to license the technology from KFUPM, we would need your company’s Business Plan (a reasonably detailed written plan prepared to show your company’s commitment and capacity for developing and commercializing the technology).
- LICENSE: Once we accept the business plan, the terms of license or option agreement are negotiated and signed with your company.
- A License is an agreement between KFUPM and your company where KFUPM’s rights to a technology (intellectual property) are licensed so that the company can use the technology in developing, manufacturing, making and selling product(s) or service(s) (in exchange of financial benefit to KFUPM). The standard License terms include financial (royalty, license fees, milestone payments, patent expense reimbursement etc.), milestones to be reached by the company (as per business plan), rights of each party etc.
- KFUPM may also choose to provide your company an ‘Option to negotiate a license’. This grants you company required time to conduct internal technical and commercial evaluation of the technology (for exploring the possibility of taking the License).
- PRODUCT DEVELOPMENT: After singing a License, your company can further develop the technology or product along with exploring its possible markets / customers.
- LICENSE MONITORING: Our office shall continue to maintain a relationship with your company and track your company’s progress of commercialization against the agreed milestones, and ensure scheduled payment of royalties and fees from the company to KFUPM.