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Robert MorrisonExecutive Director

Desert AngelsTucson, AZ

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Promote technologies with as much practical application as possible

If IP is pure science, it should have a short path to enhancing a new or existing commercial technology

Provide easily understood information about the technology, its application, and the market(s) for which it is intended

Provide as complete a picture as possible of the IP’s protection and any freedom to operate issues

Clearly describe the possible future relationship, if any, between the inventor and the IP’s purchaser or licensee

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Size of impact on intended application(s) Acquirer's ability and cost of developing

alternative technology with equal impact Extent of IP protection Extent of freedom to operate issues Payment terms Subsequent availability of inventor Willingness of institution and inventor to

modify or improve technology after transfer

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Bring its development as close to the acquirer’s needs as possible

Eliminate as many uncertainties as possible about the legal status of the IP and its application

Share in the risk as the technology is brought to market

Provide easy communication with the technology’s developer(s)

Be willing to provide future development if desired

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Turn-Ons TTOs who understand VC/Angel perspectives TTOs who will champion deals within the

institution Provide knowledgeable and consistent points of

contact Prepackage deals that make business sense

Turn-Offs Only concerned with benefiting institution Make no effort to understand needs of VC/Angel Showcase technologies with no possible

commercial application Inflexible with deal terms

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Rights to future improvements Say in market development and direction Possible loss of inventor(s) to acquirer

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TTOs operate in a competitive environment

Seldom is technology so unique that alternatives don’t exist

Long term relationships with early stage investors can be very profitable for institutions

Appropriate attitudes lead to improved ease of doing business

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The more business savvy the better Generally technology needs a willing

mentor in its transition to commercial applications

An “Ivory Tower” mentality can be a deal killer

Frequently inventors are the best persons to optimize technology for its commercial adaptation

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Prepare an easily understood catalog of all available technologies

In descriptions of technologies provide a description understandable by a lay person that includes application and IP protection information

Provide defensible terms and conditions for acquisition of each technology

When possible, get buy-in of inventor

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VC/Angel participation in late stage development of technology before transfer

VC/Angel funding of development of desirable technology for more generous transfer terms

Greater inventor participation after transfer

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Some things more important than last nickel

Good working relationship with the VC/Angel◦ license revisions (efficiently handled)◦placing future technologies (repeat customer)

Reputation of the TTO◦ investors communicate among themselves◦Want TTO recognized as principled, reasonable

and efficient Pride of profession in “fair deal, well done”

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Transfer terms reflect an understanding of the markets appropriate for technology

Business case clearly describes state of technology and what, if anything, needs to be completed before technology can be used in the intended application

Terms are developed that at the outset reflect a fair trade for both parties