Conductscience provides standard contracts that all parties can agree to in a quick and easy manner. This removes the unfair power dynamic between well capitalized academic institutions and smaller subsuppliers and manufacturers, allowing for greater transference of technology into the market. These contracts are created to be as standard as possible with key modifiers. These modifiers include:
- Revenue amount (as a %): Our standard is 8% of revenue goes to the invention institution of top line revenue.
- License amount (as a $): Our standard is $5000 for the licensing amount.
- Milestones: When an agreement is successful, there can be clauses to create milestones to benefit the academic institution. For example, after 10K of sales, 1K will go to the institution. We do not encourage the use of these, as we think they mis-align incentives between the entrepreneur and institution. However we do understand these are quite standard within technology transfer contracts, so we created modifiable clauses for this purpose.