Industry, Innovation, and Translation (IIT) created FasterFlightTM to facilitate licensing discussions with UO research-based spinouts. FasterFlight makes it easier for UO research-based startup companies to license core intellectual property from UO. FasterFlight is a process and accompanying set of documents that demystify and streamline startup licensing.
These clearly defined terms are available to spinouts founded by UO and its students, professors, and employees who developed the UO innovation(s) anchoring the spinout.
The simplified and standardized templates for startup term sheets and license agreements have been vetted by a panel of attorneys from several Pacific Northwest law firms. Throughout the process, our innovation professionals provide startup teams with guidance and background information on the various aspects of the license agreement.
- Rapidly moves innovations to licensing in a fair and equitable manner
- Aligns the goals of startup and university using fair, benchmarked terms rather than seeking the ‘best’ terms for one party at the expense of the other
- Fosters trust with an open, transparent, and understandable process
- Shortens the negotiation timeline
- Minimizes negotiation costs
FasterFlight Term Sheet Negotiation Process (PDF)
Because finalization of the term sheet is a data-driven process, UO invites teams to bring their industry-specific data to the discussion. Learn more in our overview of the process.
Financial Term Sheet Process
The University of Oregon is committed to a fair and transparent process that treats all UO research-based startups equally, independent of their business or legal experience and resources. UO wants to ensure that each startup finalizes their license agreement efficiently with minimal legal fees and confidence that the terms they agree upon are both standard for their industry sector and investable.
FasterFlight License Template (PDF)
This template is tailored for research-based spinouts based on University of Oregon inventions. The template is closely modeled after the template put together by the University of Washington with generous input from an expert advisory committee comprised of top attorneys in the Pacific Northwest innovation ecosystem. The pre-negotiated language aims to create an agreement that only requires technology-specific customization, simplifying, and expediting the licensing process for UO research-based startups.
FasterFlight Term Sheet (PDF)
This document outlines financial terms for university research-based startup licenses that have been vetted and are comparable with those of peer universities and are based on sector-appropriate data.
The FasterFlight License Template may not be the best fit for your opportunity. You may only need an option agreement, staged access to UO technology, or need to be creative in some other way given the types of intellectual property supporting the opportunity and collaborative research/service relationship with UO. We do that too! FreeFlight puts you and our licensing professional in control of the flight plan and putting the right deal together. That may include a Term Sheet or not, depending on what makes most sense to everyone. Whatever process you choose, it will be equitable and transparent!