The mandate of the Innovus, Technology Transfer office of the University Technology is to take ideas to market. This is done through protection of intellectual property rights, through registered and unregistered mechanisms, assisting researchers to realize the commercialisation of their technologies through funding opportunities and industry and investment partnerships. Commercialisation options are generally through licensing or formation of start-up companies that spins out from the university.
A license is permission from the intellectual property right owner to a another to exercise certain rights associated with the specific intellectual property in a defined territory for a period of time against payment of a license (royalty) fee. This could be in the form of running royalties or one off lump sum payment, or both.
The Impact of Technology Transfer for creation of jobs, enabling new businesses and bringing technology to market is best illustrated by this summary from www.autm.net ©
IP Protection and Licensing
Why do I need to protect my IP right?
- It is a useful negotiation and/or bargaining tool for licensing.
- It secures an enforceable right that protect the underlying invention or technology, brand, copyright or know how .
- Patenting too early might lead to problems later.
Why licensing as option for commercialisation?
- Licensing multiplies the resources to develop your invention.
- Licensing generates future income.
- Strategic partner sees opportunities and threats that you may not.
- You may make low-risk money in a relatively short space of time.
Are there any negative points regarding licensing?
- You may lose total control of the technology.
- Depending on how the license is structured, the researchers direct involvement is reduced.
- Finding the correct licensee/strategic partner can be tricky.
- Protecting your interests is crucial.
Different types of licensing
- Exclusive licensing: Only the licensee is entitled to use the rights licensed.
- Sole licence: Only one license granted, but the licensor retains the right to use the technology.
- Non-exclusive licence: The licensor retains the right of use and to license other third parties to use simultaneously the rights licensed.
- In all university licenses, the university retains a right to conduct research and to publish.