CONFERENCEAuctions of exclusive licenses
An auction is a procedure defined by regulatory enactments for granting exclusive usage rights to an intellectual property object to a natural or legal person for its practical application in exchange for compensation determined by the University of Latvia (UL). Compensation may be material (e.g., an immediate monetary payment and/or a share of revenues generated from the use of the object) or non-material (e.g., a dataset required by UL for further research or services needed by UL).
To ensure that the rights to use UL intellectual property are valorized (economically exploited) in the most beneficial way for both the state and the University, a modernized auction procedure was developed in 2023 and implemented in the second half of the year. This procedure includes:
Stage 1: dissemination of general information to identify potential interested parties.
Stage 2: consultations with stakeholders to assess real market interest.
Stage 3: a multi-stage auction with ascending bids conducted in an electronic environment.
Stage 4: the rights to use the auctioned object are granted to the bidder offering the highest compensation, with whom a licensing agreement is concluded.