63M-1-703 - Definitions. - Utah Statutes

63M-1-703. Definitions.
As used in this part:
(1) "Business team consultant" means an experienced technology executive,entrepreneur, or business person who:
(a) is recruited by the office through a request for proposal process to work directly witha college or university in the Centers for Excellence program; and
(b) works with the institution to facilitate the transition of its technology into industry byassisting the institution in developing strategies, including spin out strategies when appropriate,and go-to-market plans, and identifying and working with potential customers and partners.
(2) "Centers of excellence" means university-based, federal and industry-supported,cooperative research and development programs.
(3) "Direct license" means the licensing between a company and a Utah college oruniversity of technology developed at the college or university for the intent of commercializingthe technology or facilitating its transition into industry.
(4) "Licensee" means:
(a) a company that executes or is in the process of executing a direct license; or
(b) a sublicensee of the technology from a direct license.

Renumbered and Amended by Chapter 382, 2008 General Session