Tech Transfer and Technology Licensing
Technology transfer (or “tech transfer” as it is more popularly known) is the use of a technology know-how developed for one application or industry in a totally new application or industry. Tyvek® is an excellent, high profile example of tech transfer. This thin, lightweight, durable, paper-like material was originally designed for mailing envelopes, but it was soon adopted by the construction industry as a waterproof barrier in the walls of residential and commercial buildings. Tyvek is also used in “hazmat” suits, the protective outerwear worn by workers who handle hazardous materials.
Best of Both Worlds: One way of truly optimizing an IP portfolio is to uncover new applications and license the technology for those applications. Tech transfer can be enormously profitable for intellectual property owners that can successfully license it. If that technology is licensed to businesses in different industries, the patent owner enjoys the best of both worlds: A monopoly in its own industry, plus licensing income from non-competing businesses in other industries!
Concentric Diversification: IPOfferings takes a systematic approach to tech transfer, working outward from your core technology, researching and analyzing concentric technologies, industries and markets. One of the benefits IPOfferings brings to a tech transfer project is perspective. Since we work across many industries, we do not look at your innovation in terms of applications within only your industry. For the business, university, research facility or other organization that developed a new technology for a specific application, we are often able to uncover applications that were not originally considered.
Once we’ve identified prospective applications for your intellectual property, we put together a prospect list and develop the collateral materials necessary to support a marketing campaign. Our expertise includes not just finding licensees, but also negotiating royalties, structuring a licensing agreement and closing the sale.
If you have intellectual property which you believe is under-utilized, or for which you believe there are additional, untapped applications, IPOfferings can perform a no-risk initial evaluation of your IPs licensing potential in other industries and applications. Call us at 845-337-6911 or e-mail us at [email protected].
