Business Description: The business description focuses on the current and future state of the industry, especially in regard to the opportunities for a business.

Business Model: A startup company’s business model concentrates on key issues of customer discovery (who will buy?), customer validation (is your product what they want?) and generating revenue.

Business Plan: A written description of a business’s future, a strategic document that describes what the business plans to do and how it plans to do it.

Competitive Analysis: The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within the market space of a startup.

Conflict of Interest: Refer to the information at

Consideration: Exchange of value in a legal contract. In the context of a technology license, this value often takes the form of the grant of license transferred from the Licensor, and money, e.g. fees and royalties transferred from the Licensee.

Design and Development Plan: The purpose of the design and development plan section is to provide the reader with a description of the products design, chart its development within the context of production, marketing and sales. All regulatory steps should be clearly defined, as well as the strategies to achieve key milestones.

Diligence: Efforts towards development of a product or service.

Executive Summary: Sets forth high-level information about the business, the problem(s) to be solved, the magnitude of the market and how the business intends on generating sales.

Field of Use: Field of use could be unrestricted, or could be limited to human or veterinary

Financial Plan: A critical component of a business plan illustrating projected company growth, financial management and resource allocation.

Financing: The seeking of funds to support a startup company. Financing generally takes different forms depending on the stage of the company, from personal capital or loans, to government grants, angel investor and venture capital funding, and public share offerings.

Indemnification: To protect someone by promising to pay for the cost of future damage, loss or injury.

Intellectual Property (IP): A work or invention that is the result of creativity, such as a manuscript or a design to which one has rights and may apply for a patent, copyright, trademark, etc.

Invention Disclosure Form: A form which innovators can disclose potentially patentable technologies to the KUIC office.

License: A permission to use, generally used to refer to an agreement between a licensor and licensee to grant permission to use a technology.

Licensing Associate: Evaluate technologies that are disclosed to KUIC and then develop a licensing strategy for the particular technology. Each associate is responsible for a portfolio of dockets from “cradle to grave.” The associates each have an area of technical expertise.

Licensor: The individual or entity granting a license.

License Scope: The extent of the rights granted in a license. For example, license scope could include the geographic region in which a license is granted and whether the license is to use a product or also to make that product.

Market Analysis: Comprised of a definition of the target market(s), a clear profile of potential customers and how the company can be positioned to enter the market.

Operations and Management Plan: Describes how a business will function on a continuing basis and highlights the logistics of the organization such as the various responsibilities of the management team.

Outside Activity: Any work, advice or service for an entity other than KU that may potentially result in a Conflict of Interest. Below are examples.

  • Participation in any business enterprise as owner, partner, officer, supervisor, manager, or in any capacity with management responsibilities.
  • Consulting (as defined in Policy)
  • Conducting external research that would not ordinarily be conducted as part of the employee’s duties with the university.
  • Service on an advisory council or scientific advisory board of a company or organization other than a state or federal agency.
  • For faculty and exempt employees, any other employment with or service to an outside entity where compensation in the form of money, services, goods or other consideration of value is received.

PCT Application: An international patent application filed under the Patent Cooperation Treaty that can be used to file nationalized applications after 30 to 31 months in various countries and territories.

Provisional Application: A confidential, time limited patent application that is unexamined, must first meet sufficient written description under patent law.

SBIR: The Small Business Innovation Research (SBIR) program is a United States Government program, coordinated by the Small Business Administration, in which 2.5 percent of the total extramural research budgets of all federal agencies with such budgets in excess of $100 million are reserved for contracts or grants to small businesses.

STTR: The Small Business Technology Transfer (STTR) program uses a similar approach to the SBIR program to expand public/private sector partnerships between small businesses and nonprofit U.S. research institutions and is currently funded at 0.3 percent of the relevant agencies’ extramural research budgets.

Stopgap Provisional Application: A provisional patent application filed prior to completion of a technology assessment.

Sublicense: A license between a Licensee and a third party, granting that third party the use of some or all of the Licensee’s rights under the initial license. 

U.S. Non-Provisional Application: A U.S. patent application that is examined by the U.S. Patent and Trademark Office. 

Warranty: A written statement promising the good condition of a product and its suitability for a particular purpose.

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