New Business Guide for Maine Inventors
The Maine Inventors Office (OIED) has several resources to help you patent your invention. They can also help you manage the license, facilitate ongoing R&D, and accelerate the growth of your company based on your IP. In addition, they can help you identify real-world problems and create a business plan to market your invention. They are here to help you start your new business and make it a success!
OIED’s Startup Checklist
The Office of Innovation, Entrepreneurship and Development (OIED) has a helpful checklist for a Maine inventor to follow. The checklist is a comprehensive walkthrough of potential conflicts of interest and how to avoid them. The checklist is available at the back of this guide. The Startup Checklist also includes information about disclosure and conflicts of interest policies. This guide is especially useful for employee-led startups.
First, determine if your invention is patentable. The OIED will review your invention contract to determine its potential for protection and how to proceed next. A collaboration between you and UMaine will usually result in an InterInstitutional Agreement, which designates the lead institution for licensing, and sets out the terms of the licensing arrangement. The agreement will also outline any shared costs and profits. If you’ve received government funding, be sure to disclose your invention to the appropriate agency before you file for your patent application.
After your startup agreement, OIED will provide the necessary services to establish your business. They will work with you to develop your product and decide the best strategy for protecting your intellectual property. Then, they will negotiate with you a license agreement with UMaine, stating your intellectual property rights. They will also be responsible for all licensing costs associated with your intellectual property. It’s important that your business is set up to handle the complexities of patenting your invention, including obtaining a license to the IP.
UMaine’s policy on patenting
UMaine’s patent policy addresses the rights of university employees to commercialize inventions and discoveries. University employees are required to report inventions that they have made on university premises. They also must report inventions that they have made using university supplies. If a university employee does not report an invention, they may appeal to the Vice President for Research. The Senior Vice President makes the final decision on commercialization.
Under the University’s policy, the university may assign rights in an invention to a third party. In such cases, the university must first obtain written agreements from the parties holding the rights. The parties involved in a patent agreement will sign an agreement detailing their rights and responsibilities. The agreement will identify whom the University will pay royalties for the invention and determine how it will be used. The University will make a decision within a reasonable time frame.
The date of first public disclosure refers to the date the invention is first publicly disclosed. This disclosure can be through a presentation, publication, or other means. Public disclosure includes individuals who are not University employees or are not under a Confidentiality Agreement. It also includes submission of disclosures online. These procedures are part of the University’s intellectual property protection policy. Federal grant applications must also be marked as confidential. Some agencies, however, may post abstracts online. Any public disclosure will immediately void the protection rights of any foreign patents.
The University of Maine’s law school has been administering the program since 1999, but it will end this year, and the program will not be continued. The legislation created this program in 1999 and has helped hundreds of state entrepreneurs and UMaine faculty protect their inventions. As a result, UMaine’s policy on patenting inventions is facing severe budget cuts. Further, the Maine Patent Program faces a deficit of approximately $36 million.
UMaine’s licensing of intellectual property
UMaine’s licensing of intellectual property to startups requires that a startup obtain a license from UMaine to practice its intellectual property rights. Startups are responsible for complying with the university’s licensing policies and procedures, which may include a Material Transfer Agreement (MTA). A MTA governs the transfer of materials, including biological samples, chemicals, prototypes, and equipment. The agreement is usually a few pages long and addresses ownership, modifications made by the recipient, and publication, confidentiality, and rights to inventions.
The University of Maine’s licensing of IP to startup new businesses is a collaborative effort between the university and the innovators. The licensing process includes negotiations with the company regarding milestones and financial terms. It also involves providing informational training to faculty, students, and staff involved in the project. Additionally, the university is dedicated to increasing the number of invention disclosures and the commercialization of innovations. In addition, the licensing process requires the creation of a license agreement between the university and the startup company.
Unlike other universities, UMaine’s licensing of intellectual property to startup new businesses is formal and involves a formal agreement between the university and the client. The client and PI sign the agreement to ensure that no conflicts arise. It also ensures that the university is protected against liability resulting from issues or lawsuits. It also helps the university’s researchers access new opportunities and leverage a larger network of contacts.
The university’s licensing of intellectual property for startup new businesses may benefit employees, as long as there is an approved conflict of interest mitigation plan in place. The licensee agrees to work with the university on R&D and other needs. With the proper licensing agreement in place, the university can become a valuable research partner. Through proper coordination and management, the licensee and UMaine can benefit from the licensing partnership.
UMaine’s licensing of intellectual property to other non-profit organizations
The Office of Industrial Cooperation (OIED) is a resource for researchers and faculty who would like to license their research to external groups. The office will facilitate the licensing process and coordinate market evaluations and patent protection. Additionally, the office will help researchers identify real-world problems and develop solutions that will help solve those problems. To learn more, visit OIED’s website.
UMaine will retain rights in licensed intellectual property. These intellectual properties may include biological samples, chemicals, prototypes, or pieces of equipment. The Material Transfer Agreement will typically be a few pages long, and will address ownership and distribution rights. It may also specify whether or not the material can be altered by the recipient. Further, it will address any rights related to publication or confidentiality, and intellectual property rights.
In addition to obtaining permission to license intellectual property, UMaine must ensure the licensing process is compliant with applicable laws and regulations. The OIED advises employees to disclose any financial interests they may have in a company before submitting a proposal for funding. The Office of Research Compliance, or OIED, also provides a checklist that employees should complete before submitting a grant proposal.
Disclosure of inventions is required under University of Maine System Policy Governing Patents and Copyrights. This policy can be found online and is linked at the end of this guide. Once disclosed, the process of commercialization often begins, including identifying outside development partners. Patent-protected inventions must also be reported to the government sponsoring agency, and the same requirements may apply to other types of sponsored projects.
UMaine’s licensing of intellectual property to other universities
Licensing your intellectual property to another university can be an excellent way to get your research off the ground and into the hands of potential customers. The Office of Intellectual Property Development (OIED) manages these agreements and assists researchers with the licensing process. The Office also coordinates market evaluations and patent protection. Intellectual property licensing allows you to benefit from UMaine’s extensive research and development capabilities.
The licenses are formal agreements between the university and the client that must be signed by both parties. Each university must disclose its financial interest and acknowledge the rights of the other party. The licensing process can be complicated but will ensure that the intellectual property stays within the University. It is also a great way to protect existing intellectual property. By limiting the number of intellectual property licenses you issue, you can ensure that your university is protected in the event of litigation.
UMaine’s licensing of intellectual property should be done carefully and in consultation with the intellectual property owners. A license agreement will spell out the rights the university holds over the intellectual property and the conditions under which the licensee can use the intellectual property. The licensee must use the intellectual property in a commercial context and pay the university a reasonable return for it. The agreement will determine whether the license is non-exclusive or exclusive.
UMaine’s licensing of intellectual property should be legally binding and should include a confidentiality agreement. This document will protect the intellectual property and other confidential information shared by the parties. The Office of Institutional Compliance will monitor this process. The University is committed to compliance and will monitor all licensing agreements to ensure that they are done legally. This policy applies to all employees, faculty, staff, and students of the University.