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    LICENSING

    Definition: The granting of permission to use intellectual property rights, such as trademarks, patents, or technology, under defined conditions.

    Types of Licensing:

    1. Exclusive License
    2. Non-exclusive License
    3. Outright Sale (selling out your IP rights)

    Fee/Charges for Licensing Activities:

    1. Licensing fee
    2. Royalty
    3. Other benefits (e.g. access to resources and facilities of the organization that has license to commercialize the R&D intellectual property)

    Requirements/Process

    1. Letter of intent from the third party
    2. If the third party is a company, form 24 and 49 are required.
    3. Negotiation on types of licensing, royalty and ownership of IP (as related matter in 4.1)
    4. A simple business plan/blue print of the business