A UMBC Express License Agreement (EXLA) makes starting a company based on technology licensed from UMBC easier than ever. An EXLA is a standard, non-negotiable license agreement specifically designed for startups founded by UMBC faculty, staff, and graduate students.
An EXLA offer standardized terms that are fair and reasonable for both startup companies and UMBC. This expedites the licensing process by eliminating the need to negotiate a license with OTD. Consequently, an EXLA must be signed without modifications, in other words “AS IS.”
Despite the many benefits of an EXLA, startups are not required to use one – if chosen otherwise, alternate licensing options may be negotiated.
The key advantages of a UMBC Express License include:
No cash required upfront and deferred reimbursement of patent expenses for up to two years
No Milestone fees
Favorable Royalty Fee:
One percent (1%) on Net Sales of Clinically-Approved Products
Two percent (2%) on Net Sales of Other Products
To use a UMBC Express License Agreement, applicants must submit an application form, including a business plan synopsis, which must be approved by UMBC. Applicants must also submit a Conflict of Interest disclosure form. Maryland Innovation Initiative (MII) Phase III project recipients that meet the above criteria are automatically pre-qualified, pending Conflict of Interest Committee review and approval. However, all applicants must submit the application form to be considered for an EXLA.