1224 West Main Street, Charlottesville, VA 22903
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(434) 924-2175
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www.uvapf.org
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: ____________________
University of Virginia Patent Foundation (“UVAPF”)
Effective Date: (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:
____________________________________ ________________
Date Company
____________________________________ ________________
Executive Director – UVAPF Date