The Authority will have greater power and freedom than the OCS in launching creative funding tracks and instituting new guidelines that will govern the transferability and licensing of the resulting technology.The Authority will publish new grant tracks and guidelines from time to time, but it will likely take the Authority several months to launch into full operation. In the interim, the existing OCS regulations continue to apply.
At present, the R&D Law only recognizes the “transfer” of technology, while much awaited regulations addressing licensing transactions were drafted but have not been promulgated to date.
Licensing regulations similar to those previously proposed by the OCS are expected to be adopted by the Authority and go into force in the course of 2016. Source: Pearl Cohen Client Alert.