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Term Sheet
Company/UVAPF
This term sheet is not meant to be a binding contract, but rather is intended to set forth the
primary licensing terms as agreed upon by the undersigned parties, to be codified in a License
Agreement to be negotiated between the parties.
Licensing Terms
Parties to the Agreement:
Effective Date:
____________________
University of Virginia Patent Foundation (“UVAPF”)
(anticipated)
Licensed Patents:
Scope of Rights:
Reservations of Rights:
Field of Use:
Licensing Fees:
Patenting Costs:
Royalty Rate:
Non-royalty Sublicensing Fees:
Diligence Provisions:
Minimum Annual Royalty:
Starting Date:
Milestone Payments:
Maintenance Fees:
Insurance/Indemnification:
Required as a condition of the license (such insurance
policy to name UVA and UVAPF as insured parties).
Agreed by:
____________________________________
Company
________________
Date
____________________________________
Executive Director – UVAPF
________________
Date