It should be noted that licensing-out a technology to a commercial partner may be more appropriate because it facilitates dual academic and commercial development.
Licensing simply means a business agreement that occurs between two companies that gives one the permission to use the resources of another company.
It should be noted that for academic entrepreneur based in a university, licensing-out a technology to a commercial partner may be more appropriate than forming a spin-out venture because it facilitates dual academic and commercial development.
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