Process of Technology Commercialization

How is technology commercialized?

Technology is typically commercialized through a license agreement in which the university grants rights in a specified technology to a third party for a period of years. License agreements require the licensee to meet certain performance milestones and compensate the university. The university shares this compensation with the inventors.

What are the typical steps in the process?

The typical process is summarized in “The 8 Steps of Technology Commercialization”:

• Step 1: Research
• Step 2: Invention disclosure
• Step 3: Assessment
• Step 4: Patenting
• Step 5: Identifying potential licensees
• Step 6: Negotiation
• Step 7: Licensing
• Step 8: Revenue & commercialization

Note: these steps can vary in sequence and often occur simultaneously