During this phase, the UILO will work with the researchers to develop a strategy to best facilitate the commercialization of the technology. This often involves patenting to protect the intellectual property of the invention, marketing the technology to potential licensees and, in appropriate cases, working with the inventor and possible investors to establish a spin-off company around the technology.
In many cases the assessment process will identify further research activities that will enhance either the quality of our patent position or to make the discovery more attractive to licensees or investors.
This research may involve:
When seeking licensees and/or investors, the UILO will work closely with inventors to identify key receptors and ensure that the technology is commercialized most appropriately.
The development and marketing phase for different technologies can vary significantly in duration. On occasion, new discoveries that appear compelling may fail to find traction in a crowded marketplace, and broader knowledge mobilization outlets may ultimately be the most effective form of distributing these technologies.
For all technologies that are licensed, form the basis of a spin-off company or are distributed more broadly, there are identifiable outcomes and benefits.