How To Negotiate University Spin Outs

Investment in UK university spin outs reached £1.11b in 2020, which is a significant increase from the £577m raised in 2011. Although the number of deals has decreased since its peak in 2017, university spin outs remain a popular and important method for UK universities to commercialise their knowledge and research.

This blog outlines some of the key aspects that founders should consider when negotiating university spin outs with the universities themselves.

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Can an investment be EIS qualifying if a company acquires intellectual property and/or generates revenue from royalties?

Can an investment be EIS qualifying if a company acquires intellectual property and/or generates revenue from royalties?

The Enterprise Investment Scheme (EIS) is an attractive option to those wishing to grow their business and attract the attention of investors (by offering tax reliefs to those who invest).

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M&A funding through the Coronavirus Business Interruption Loan Scheme (CBILS)

Late 2019/Early 2020, liquidity in the M&A market was strong, uncertainty created by the general election was on the decline; whilst the value of both UK domestic and outward mergers was up by £1.1b in comparison to Q1 of 2019. However, as COVID-19 spread and fear began to grip the market, numerous M&A deals were shelved or placed on hold, until the market showed signs of recuperation. Those delayed deals will soon face the added detriment of a greater focus on due diligence and how the target continued to operate throughout the crisis.

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What is section 21 approval and when is it needed?

Any company who wants to market an investment opportunity to investors through making an offer or an invitation to them to subscribe for shares or securities in the UK must comply with the Financial Services and Markets Act 2000 (“FSMA”).

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Completion Accounts and Locked-Box Mechanisms

Completion accounts are special purpose transaction accounts used in M&A deals. They are often used to verify the target company’s actual financial position at completion mirrors the accounts on which the parties based their valuation on and expected when signing the deal.

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