After the license agreement is signed, the Office of Industry Engagement maintains ongoing contact with the licensee to monitor the company’s performance and ensure that the company is in compliance with established terms and conditions. In many cases, the licensee will fund additional research at Georgia Tech or retain the inventor as a consultant in order to further develop the technology. Industry Engagement handles any necessary adjustments or amendments that need to be made to the license agreement over time. Furthermore, if an innovation generates income, royalties will be distributed to the appropriate university stakeholders in accordance with Georgia Tech’s intellectual property policy.
Georgia Tech Research Corporation distributes license revenue quarterly. Following Georgia Tech’s intellectual property policy and after the first $2,500 of gross licensing revenue is distributed to the creators of the intellectual property, net licensing revenue is distributed as follows:
|Next $500K||$501K to $1,000K||>$1,000K|