RAP - The Next Phase, page-283

Hi aras

License/Patents with UQ (also in conjunction with a potential T/O) were one of a few questions me and my brother (both RAP shareholders) had too. Below you see our questions and the answer from Brian Leedman.

I posted this already on 23 October 2015. The e-mail correspondence with BL is dated 1 October 2015. Hope this helps.

Cheers, Tony

Question:

1. The University of Queensland has granted over its commercialization company UniQuest the exclusive licence to ResApp for developing mobile medical applications for the diagnosis and management of respiratory disease. As I understand UniQuest is the largest shareholder (7.51%).

1. Can you comment on who exactly owns which IP rights/patents that are crucial for a successful and sustainable commercialization?

2. Can you comment on the design of the licensing agreement?

The reason behind my questions is the fear that the licencer is so powerful to be able to excessively determine the future of ResApp. Being the largest shareholder the licencer has of course all the incentives to align its interests with those of the company. Nevertheless, a sustainable and balanced licensing agreement and IP rights/patents arrangement remains crucial for ResApp.

Answer:
UQ own the rights to the IP which is exclusively licensed to ResApp. There is a small loyalty payable to UQ on future sales. The interests between ResApp and UQ are completely aligned. The licensing agreement was legally scrutinised as part of the due diligence of the acquisition transaction.