Stony Brook University is a major source of new technology. Over $170 million in research funding at the University generates substantial numbers of new technology disclosures each year. Stony Brook is among the top universities in the country creating new inventions, discoveries, devices and processes, licensing over 25% of its technologies to industry. The Policies which govern the OTLIR are available here.
Yes, but if an invention has used any government sponsorship, the OTLIR is required by law to first return the title of said invention to the sponsor. The inventor(s) may petition the sponsor for obtaining title of the invention.
Requests for release of technologies disclosed to OTLIR are reviewed case by case. Not all technologies are suitable for release because they may constitute valuable background technologies or know-how, whether patentable or not, and may be subject under a license agreement.
The process of starting a company begins with disclosing the technology to the OTLIR. The team at the OTLIR will review the technology to determine if the invention is patentable, identify potential products or services based on the technology and determine the market for the technology. In considering whether the technology is suitable for a startup, we review the commercialization path of the technology, the nature of the technology (eg, platform, disruptive, etc), and interests of the inventor(s). We share these results with you and if it is determined that a startup is the most suitable path to commercialization, we will work with you to help connect you to the appropriate individuals to establish the company and begin to write a development plan and financing strategy for the company. It is preferable for the faculty inventor to be partnered with an experienced entrepreneur from the particular industry space who can oversee day-to-day operations of the company, help write the development plan and raise money for the company. An experienced entrepreneur is not always available at the stage the company is founded, so in the beginning an attorney or other affiliate of the new company can represent the company during license negotiations.
Once the company is established, the OTLIR will engage the new company to enter into good faith negotiations for an option, term sheet or license agreement to enable the company to raise money, proceed with R&D and move the product or service to the market place. The OTLIR is flexible with the types of deals structures for startups and we are willing to work within the reasonable requirements of the startup in terms of timeframes and what is required by the startup to secure financing. Although we are open to other types of transactions, we typically enter into an option agreement with the startup which enables the startup to secure rights to the technology, and evaluate the technology, and raise money. Options agreements may license terms, which can help in attracting investors.
The OTLIR will help connect you to the appropriate individuals to establish your company, generate a business plan, and raise money for your new venture. Once the company is established, we will work with the management team of the new company to negotiate a license or option to the technology.
Through our network we can help steer you in the right direction in creating a successful venture by introducing you to:
- Business mentors and entrepreneurs
- Legal and accounting services
- Incubator facilities
- Potential investors and industry partners
- Resources for navigating conflict of interest policies
- Resources for Business planning, market assessment & pitch preparation
Once the university has decided to retain title to an invention, the inventor will be asked to provide a non-confidential marketing summary of the invention .This information allows OTLIR to market the invention through the OTLIR website and other web-based technology marketing services.