“Out-licensing is when a company (the licensor) grants another organization (the licensee) the rights to use its product, technology, or intellectual property. In this case, the licensor typically receives royalties, upfront fees, or milestone payments from the licensee.”

PROCESS

At Medlab, we wish to make the process as streamlined as possible, our overarching gates are:

1. Needs Identification: at this step, we seek to understand how the technology is to be used, hence target market, market segment, compound versus formulation, exclusivity versus non-exclusivity, and manufacturing and regulatory requirements are vital information. Due to the sensitivity of the information, non-disclosure agreements are expected.

2. Project Brief and Acceptance: at this step, a project brief is agreed upon with key dates and milestones.

3. Proposal Acceptance: a transaction proposal is agreed to move forward.

4. Proposal Execution: a working project team is formed on both sides, an execution strategy is agreed upon, and both sides work towards executing the proposed agreement.

5. Review: Agreements are reviewed periodically to ensure deliverables and conditions of the proposal are met.