Accelerating the Real-World Impact of Northeastern Inventions
The Center for Research Innovation aims to boost venture creation, deal flow, and research impact through the new Express License initiative. The Express License streamlines the contract process by eliminating time consuming negotiations, allowing Northeastern entrepreneurs to quickly secure a license and move forward with their venture. Through predefined license terms and a shared success model, the Express License empowers entrepreneurs to focus resources on accelerating growth.
- No upfront fees for Northeastern faculty, staff, students, alumni
- Exclusive worldwide license with the right to sublicense
- Patent reimbursement costs are deferred to assist with cash management
- Fixed patent royalty rates of 2% on life and physical science sales and 3% on software sales
- Fixed sublicensing royalty rates on all non-sales considerations received from sublicensees of 25% on all physical science and software sales and 20% on all life science sales.
- 4% equity with a 1% minimum at any liquidity events
- Licensed technologies must be solely owned by Northeastern University and no other institutions, companies, or individuals
- The CRI must have filed a patent application on the technology
- A detailed business plan must be submitted prior to license execution
- The Express License must be signed “as is”, without modifications