IP Terms and Conditions

For LESA Center Full Industry Members in good standing with sponsored research may secure exclusive royalty free (ERF) rights to the IP subject to the following conditions:

• The sponsored research commitment must be greater than $300,000 for a maximum of 2 years ($150,000 per year)
• Time limit (from start ERF rights) is a maximum of up to 3 years after provisional filing to negotiate royalty bearing license.
• Full member pays annual IP holding fee of $10,000.
• Full member continues to pay annual LESA Center Membership fee ($35,000).
• All patent filing and prosecution fees are paid by the LESA industry member.
• The exclusive license must be limited by field of use.
• Company use of IP contributing to a revenue stream exceeding $1M gross revenue will trigger negotiation of a royalty bearing license.
• At the end of 3 years, if a royalty agreement is not reached, the Rensselaer can market it broadly.

In the event of co-invented IP developed jointly by Rensselaer and the Sponsor, Rensselaer will exclusively license its rights to Sponsor for a period of 3 years from the date of the provisional filing, at which time Sponsor may enter into an agreement to continue ongoing exclusivity subject to reasonable payment terms and royalty fees, or release Rensselaer to freely market rights to the co-invented IP to others.