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For tech transfer offices working to commercialize a portfolio of research innovations, paying out royalty shares to multiple creators, contributors, inventors, professors, labs, and other partners can be complicated, time-consuming, and error-prone.
No matter how your institution receives royalties and pays out distributions, MetaComet® can save you time and reduce the stress around royalty management, freeing up your team to focus on business development and technology transfer success.
MetaComet®’s suite of royalty management solutions will automate your revenue distribution calculations, reports, and payments to make them efficient, accurate, and stress-free.
All of our tools are designed to integrate easily with your existing tech transfer platform, ERP, or other financial software for simplified accounting, reporting, and payment processing.
Hundreds of companies and universities rely on MetaComet as their royalty financial software provider because of our:
– Exclusive focus on royalty accounting software.
– Simple, proven onboarding process.
– Transparency and ease of use.
– Sincere dedication to customer success.
– Fixed cost implementation, with no surprises.
– SOC 2 Type II security certification.
– Risk-free 12-month trial period.
→ Ask us how our accounting software can help your institution manage tech transfer royalty distributions.
Technology transfer (also known as “tech transfer”) is the process by which a university, laboratory, or research institution commercializes and monetizes the work of their faculty, research staff, or other employees. The department responsible for this activity is often called the tech transfer office (TTO). The TTO will evaluate the research, discoveries, or inventions for market potential, and secure the appropriate patents or trademarks. They may then license the intellectual property (or IP) to an existing business, or become involved in creating a new start-up business or joint venture that will license the IP and bring it to market. As a part of these technology license agreements, the TTO will collect royalties, license fees, or other payments from the licensees, and distribute portions of those payments back to the original researchers or inventors.
The intellectual property involved in tech transfer may be an invention, patent, process, or trademark with applications in biotechnology, pharmaceuticals, medical devices, agriculture, food processing, computer software and hardware, energy, transportation, or any other industry that depends on new innovations to drive business, save lives, and/or improve our quality of life.
One significant example of the importance of tech transfer is found in the knowledge sharing that was critical to the development of COVID-19 vaccines. In 2020 and 2021, over 200 tech transfer agreements between universities, pharmaceutical companies, and vaccine manufacturers enabled the rapid global development and distribution of these life-saving vaccines. This unprecedented level of global medical collaboration allowed billions of people around the world to be vaccinated in just a few years.
Tech transfer delivers a cascade of benefits to different parties throughout the process:
Are you spending too much time calculating and paying out distributions?
→ Contact us to see how our software saves time and eliminates royalty headaches.