Tech Transfer Central

University Start-Ups: Turn Your Term Sheets into Deal MAKERS Not Deal BREAKERS!

Format: On-Demand Video/Transcript, or DVD
Originally presented: March 16, 2011

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Price: $197
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Uncover the inner workings of equity and license-focused term sheets – and optimize your university’s negotiating position!

Term sheets form the underpinnings of licensing and investment agreements, yet too often these critical guiding documents are given less attention to detail than they deserve. Too quickly signing off on the term sheet can result in a poor negotiating position, and ultimately a less favorable deal for your institution.

To ensure your deals are based on a sturdy and well-crafted foundation, Technology Transfer Tactics has recruited a team of experts to guide you step-by-step through a rock-solid review of terms, trends, and perspectives on various new venture, angel capital, and licensing terms so you know what terms and conditions to insist on, as well as those to avoid to keep the deal from going sour.

During this detailed 90-minute program, your expert faculty will take a two-pronged approach:

  • Part I: Term Sheet Development and Negotiation: Equity Topics
    • Price Terms
    • Treatment of Dividends
    • Liquidation Preferences
    • Price Protection (“anti-dilution”)
    • Redemption Features
    • Tranching/Staging
  • Part II: Term Sheet Development and Negotiation: License Topics
    • Upfront Fees / Patent Cost Recovery
    • Royalty, Trading off equity and royalties
    • Calculating net sales
    • Field of Use
    • Sublicense rights
    • Due diligence
    • Insurance and Improvements
    • Patent expenses, prosecution
    • Warranty and indemnification
  • Plus, we’ll provide a collection of sample term sheets for review and takeaway!

Your Expert Panel of Presenters:

Gerard Eldering is Founder and President of InnovateTech Ventures, specializing in venture creation based on inventions licensed from universities and research institutions. Since the company’s founding in 2007, InnovateTech has supported numerous mid-Atlantic universities and co-founded multiple start-up. Mr. Eldering has been working in the technology transfer community for more than a decade and is passionate about the creation of professionally managed and funded start-up companies. Prior to launching InnovateTech, he founded and served as Director of the Technology Transfer Office at The MITRE Corporation. Mr. Eldering is an MBA and a registered patent agent.

Tracy Warren is a general partner of Battelle Ventures and Innovation Valley Partners, where she focuses on investments in health & life sciences and emerging energy technologies. Ms. Warren works closely on identifying promising technologies, projects and synergies with the National Laboratories that sole limited partner Battelle manages or co-manages for the U.S. Department of Energy. She serves on Battelle Memorial Institute’s Commercialization Council, which works to enhance technology transfer and commercialization policies and mechanisms within Battelle and the National Labs.

Matt Burnstein has been a partner at Waller Lansden since 2003 and has served on the firm’s Board of Directors since 2006. His practice is dedicated to business transactions, focusing on acquisitions, venture capital investments and private equity transactions for businesses ranging from public companies to start-ups. He is recognized in the 2010 and 2011 editions of The Best Lawyers in America® in the area of Corporate Law.  Mr. Burnstein also represents a number of early-stage companies and sophisticated investors making investments of seed and growth capital. He assisted two of the initial TNInvestco recipients in their formation matters and has represented them in several early investments. Since 2000, he has represented a national research university in its technology transfer and enterprise development functions.

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