
The Center for Technology Licensing (CTL) is Cornell University's technology transfer office. We manage technology for Cornell's Ithaca campus, Weill Cornell Medicine, Cornell Tech, and Cornell AgriTech in Geneva.
FastTrack for Engineering/Physical Sciences
Applicable Technology fields:
Semiconductor, electronics, non-biological chemistry and materials, energy, optics, photonics, MEMS/NEMS
Key financial terms for the Exclusive License
Equity | 4% non-dilutable through subsequent equity financing aggregating $2 million | OR | 1% non-dilutable until Change of Control |
Upfront Payment | $0 | ||
Royalty | 2% of Net Sales* without Anti-Stacking term | OR | 3% of Net Sales* with Anti-Stacking term (potentially down to 1.5%) |
Sublicensing | Pass through royalty**, then 15% of other sublicense income | OR | No pass through royalty**, then 25% of all sublicense income |
Milestone Payment | $0 | ||
Annual Fee
(Creditable against royalties within the same year) |
1-4 years: $0
5-6 years: $15K/year Annual after: $40K/year |
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Patent Expenses | Reimbursement of all past Patent Expenses, plus the first $5,000 in future patent expenses, will be deferred up to 2 years.
(For any startup companies that elect to locate their principal operations in Tompkins County, NY, Cornell will increase the $5,000 to $20,000 and extend the 2 years to 3 years.) |
* For products based on licensed Cornell technologies
** Pass Through Royalty means the sublicensee applies the same royalty rate to its Net Sales as the licensee
Agreements
- FastTrack License Agreement for Engineering/Physical Science Technologies
- FastTrack Stock Purchase Agreement
- FastTrack Option Agreement