Technology Transfer

 
Commercialization is a process of bringing a new idea in a form of product or service to the market with a goal of generating revenue and/or widespread usage. The process consists of multiple steps.

Licensing is a legal, written agreement in a form of contract, between two or more parties:

Licensor – the owner of the IP or idea

and

Licensee – the permitted party

wherein the idea/IP owner gives permission to another party to use their brand, copyright patent, or a trademark.

License agreement is a document that contains details on the type of transfer agreement, the terms of usage, compensation, etc. License agreements are negotiable. License agreement can be:

Exclusive – one licensee

or

Non-Exclusive – multiple licensees

Royalty – is a revenue from licensing a product, commonly defined as a percentage of sales per unit and depends on factors such as: exclusivity of rights, product type, risks involved, market demand, available alternatives, etc.

Technology transfer
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