Normally the research institution's overall interests are best served by granting non-exclusive utilisation rights (licenses).

When, as an exception, the institutions grant an exclusive license, the license should be limited very precisely to a well-defined product area within the company. 

Alternatively to a well-defined business area, and possibly to the geographical region of the company.

Licenses are granted on terms which give the institution the freedom to enter into future research collaboration.

And to continue securing external financing of the institution's research.