The Office of Intellectual Property, a department within the Office of Research 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: