Applicable Technology fields:
Semiconductor, electronics, non-biological chemistry and materials, energy, optics, photonics, MEMS/NEMS
FastTrack for Engineering/Physical Sciences
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 or until $2 M equity financing.
(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.) |
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* 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
