Frequently Asked Questions
If you are a KU employee, a founder of a Startup based on a patented (solely owned) KU intellectual property (IP) and an inventor on any such IP.
No, you will not qualify (please refer to question 1).
Yes, but only if the third party is willing to accept the terms and conditions of the Swift Startup License.
No (please refer to question 1).
No, you will not be able to re-negotiate the terms of the previous license.
The KU inventors will need to resolve this issue independent of KUCTC. The formation of a KU startup should be agreed upon by all inventors.
Please refer to www.kuic.ku.edu for contact information for KUIC Licensing Officers. If you already work with a KUIC Licensing Officer, you can contact him/her directly.
No, the terms of the Swift Startup License are fixed and if not acceptable, a more detailed and time consuming exclusive license agreement template will be used.
This agreement may not be edited. However, if there are specific concerns you may discuss it with KUCTC. Please note that a request for additional edits will slow down the execution process because KUCTC will need to involve the Office of the Vice Chancellor for Research & General Counsel to review and comment on any such edits.
It is preferable to attend Startup School @ KU prior to receiving Swift Startup License terms. However, if the startup has a credible CEO and business plan the company can apply for a waiver. The applicant’s business plan will be reviewed and a recommendation made regarding the viability of the company to obtain such a waiver.
No, you will not qualify for the Swift Startup License. The diligence milestones will be addressed in Startup School@KU.
Success Fee means the rate that will be used to calculate the amount that Licensee shall pay to KUCTC upon a liquidation event or Initial Public Offering (IPO). The success fee rate for the Swift Startup License is 1%. Please note that this provision shall survive the termination or expiration of the Swift Startup License.
To access the template, follow the Swift Startup License (pdf) links on the KUCTC website.
(a) a patent application that has been filed as a non-provisional, PCT, or foreign filing;
(b) multiple patent estates that could give rise to distinct product families;
(c) 2 or more distinct patent families;
(d) jointly owned intellectual property.