The Offices of Technology Management (OTMs) are responsible for licensing out University owned intellectual property. This intellectual property is wide ranging in nature and includes patented and unpatented technology. The OTMs will occasionally have accounting audits performed at OTM licensees in order to assure that the license royalties being received match an objective accounting (licensed product) audit. Sometimes the OTMs will utilize a simple “desk audit,” whereby the objective accounting is approximate and is performed using publicly available information. OTM also uses on-site audits of licensees. OTM would also like to consider the form of a contingency audit in some cases. Some of these licensees are outside the US.

Submit one (1) original and three (3) copies of the response as defined in the specifications. The University reserves the right to accept or reject any and all responses or parts thereof. Vendor may expect payment thirty to sixty days after receipt of invoice, unless otherwise stated in the bid documents. This procurement may be contingent on Board of Trustees approval. Illinois Department of Human Rights (IDHR) eligibility number is required on all proposals, if applicable.