The University of Minnesota has finalized a license agreement for Commerce and Search for Technology Transfer (CaSTT), an online tool that makes technologies available for licensing through an online database. CaSTT allows universities and research institutions to upload technology descriptions of intellectual property, which makes it easier for others to find through advanced search engine optimization (SEO). It allows users to submit inquiries about intellectual property electronically. Some nonexclusive license agreements can even be completed online.
Darren Cox, CaSTT founder and chief evangelist, originally built the technology to reduce the cost of paper licensing for items such as the Minnesota Living with Heart Failure questionnaire. “We figured out that we were losing money on every license because of all of the manual processes of paper processing, so we thought there could be a better way. Then we thought, why don’t we just put it online and sell intellectual property the same way that you buy a book on Amazon?”
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