Starting a company based on technology licensed from UMBC has just become easier as a result of the UMBC Express License Agreement (EXLA). EXLA is a standard non-negotiable license agreement aimed exclusively at faculty and graduate student founded startups. Startups are not required to use the EXLA. If chosen otherwise, alternate licensing options may be negotiated.
EXLA offers terms that are fair and reasonable to startup companies and UMBC and the same exact terms are offered to all UMBC faculty, staff, and graduate student startups. The EXLA aims to expedite the licensing process by eliminating the need to negotiate a license with OTD. Consequently, the EXLA must be signed without modifications, in other words “AS IS.”
The UMBC Express License key advantages 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
In order to use the 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 EXLA.