This case study examines the commercialization efforts of Xtalic, a startup founded by MIT scientists based on their discovery of a novel material science method to protect metal substrates. The case focuses on the strategic decisions involved in bringing this technology to market, including choosing a business model, navigating licensing discussions with the MIT Technology Licensing Office (TLO), and addressing potential conflicts with existing patents. Appendices provide context on the role of TLOs in university technology transfer and present a the text of the proposed licensing agreement between MIT and Xtalic. The case and licensing agreement define key terms like royalties, exclusivity, equity stakes, milestone payments and sublicensing rights.