Compass: The Spinout Process
Most universities today have a reasonably transparent spinout process. This can be a straight forward transaction, or depending upon circumstance, timescales and agendas, the spinout process can sometimes be something of an ordeal.
Your technology transfer office will have a limited amount of time to work through this process with you, (and they will have 101 other tasks of similar priority to get done at the same time). An issue, a question, an unexpected answer, a problem, a difference of opinion or simply a misunderstanding can cause a 2-3 month process to become a 6-12 month nightmare, for both sides.
The Spinout Process Compass maps out each step of the journey, with an explanation of what the university will expect of you and your company, when and why. Similarly there is a list of things that you will require of the university, (not least of which will be the need for a license to or assignation of any intellectual property that the spinout company will require). The session covers details such as who pays? (you didn’t expect to have to pay the lawyers?); for what and when?; who, when and what to expect when negotiating with the university; how to keep everyone on-side before, during and after the process is complete.
The Spinout Process Compass is a one day session and comes complete with text and work-books.
The most important thing to remember about the spinout process? It takes (much) longer than you think. Start your spinout process now by finding out more about The Spinout Process.