Industrial Liaison & Technology Transfer
Marketing the Invention
Exploitation of well-protected IP demands market knowledge, negotiation abilities, technical knowledge and business perspective, as well as financial and legal knowledge. There are multiple variables to control: market size, time frame to market the product and the technology, portfolio of similar existing technologies, etc
Once a product or technology idea has been fully understood, developed and protected, there are several different commercialization options such as:
- Finding Licensees: Licensees often utilize their existing manufacturing and marketing resources to produce and commercialize the licensed technology. This allows a quick market penetration and reduces business risks usually associated with new technologies.
- Starting a new company or spin-off business: in this case the new company will assume responsibilities of the license or assignment of the IPR. The decision often implies an assumable capital investment and requires, not only the discovery of a market opportunity, but also a strong team of entrepreneurs.
- Joint ventures: this route demands business synergies among the parties involved. Usually one party takes control of the technology development, while its counterpart faces the production or the commercialization phase. In joint ventures, partners share business liabilities through joint-venture agreements.