Industry gets the ‘BEST’ deal
Binghamton University now can offer companies that collaborate on R&D projects a simplified way to use inventions arising from sponsored research.
The Binghamton Express Square Terms (BEST) Deal License is a non-exclusive, royalty-free, paid-up license.
“This is an innovative new way for us to engage industry partners,” said Bahgat Sammakia, interim vice president for research. “We are eager to remain a leader in developing research collaborations with companies around the world, and the BEST Deal can help us do just that.”
About 17 percent of Binghamton’s research awards come from business and industry. Industry support accounts for just 6 percent of academic R&D funding nationwide, according to the National Science Foundation.
The time-saving and cost-effective licensing process is a natural result of Binghamton’s ongoing work with the private sector, said Eugene Krentsel, assistant vice president for entrepreneurship and innovation partnerships. “We listen to industry and are interested in understanding their needs,” he said. “Companies say simplicity and predictability are their biggest concerns about licensing.”
Participating firms pay a one-time license fee of $1,000 for each U.S. or foreign patent application filed and made part of the license. They also compensate the University for expenses related to acquiring patent rights they request. Krentsel said the low-cost deal fits companies large and small. “Our nominal fee is a trivial expense when it comes to protecting potentially important discoveries,” he said. “Firms could easily spend more than that just on legal fees related to negotiations.”