How is technology transferred?

Technology is typically transferred through a license agreement in which Yale grants its rights in the defined technology to a third party for a period of years, and sometimes for a particular field of use and/or region of the world. The licensee (the third party licensing the technology) may be an established company or a new business startup. Licenses include terms that require the licensee to meet certain performance requirements and to make financial payments to Yale. These payments are shared with the inventors, Yale and other institutions in the case of jointly owned inventions, to provide support for further research, education and participation in the tech transfer process.