Step 1: Submission of License application to FITT
To initiate the process the letter of intent on company’s letter head and a license application.
Step 2: Assessment of application by FITT
Once the license application is received at our end, FITT will do a quick assessment and revert.
Step 3: Sharing of term sheet
After assessment, FITT will propose a term sheet to company. The term sheet includes both financial and non-financial terms and conditions.
Generally, there are two modes of technology transfer:
- Non-exclusive license
- Technology development and transfer
The financial conditions vary from case to case depending upon stage of development and market value of technology but, include a lumpsum, or milestone based payment or cost of development and commitment fee and royalty.
Step 4: Negotiation, if any
Step 5: Execution of License agreement
Execution of license agreement enables the company to make and develop the technology. We want to assure you that we will be there as partners in the process of commercialization.
Step 6: Sharing of Technology Dossier
After the receipt of 1st payment and execution of the agreement, a dossier with details on the technology will be shared with the licensee.
Application for Licensing – Download
Technologies at different stages of development are available for licensing and further development.