About the Office of Intellectual Property
The Office of Intellectual Property, a department within the Office of Sponsored Programs at Florida Institute of Technology, is responsible for facilitating and accelerating the movement of research and technology out of the university and into the marketplace.
The transfer of the technology generally begins when a company indicates that it is interested in the technology. The primary vehicle for transferring the technology is a license agreement. A license is permission to do something that one could not otherwise do; for example practice a technology covered by a patent or copyright that one does not own. Our office is responsible for negotiating the terms of the license agreement. There are two major distinctions found in a license agreement: exclusive and non-exclusive. The different types of licenses are described below:
- Exclusive License: An exclusive license is one that states that the party granting the license will not give any other party the same rights in the same field of use (but another party may be given similar rights in a different field of use.) For example, one party may have an exclusive license to use a polymer for a car bumper but another party may have an exclusive license to use the same polymer for a toy.
- Non-Exclusive License: A non-exclusive license gives the licensee rights in a field of use, but also allows the party that grants the license to give other parties the same rights in the same field of use. For example, two different parties may be granted non-exclusive licenses to use the same polymer to make car bumpers.
Please contact us for further information.