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Office of Technology Commercialization David McClure Associate Director

Office of Technology Commercialization David McClure Associate Director. What is Technology Commercialization ?.

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Office of Technology Commercialization David McClure Associate Director

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  1. Office of Technology Commercialization David McClure Associate Director

  2. What is Technology Commercialization ? Technology Commercialization is a process used to identify, define, and ultimately transfer ownership of a technology from a researcher to the commercial partner who develops it into a consumable product and delivers it to the consumer.

  3. What is Technology Commercialization ?

  4. What is Technology Commercialization ? 83 20 10 4 / 6

  5. What is Technology Commercialization ? Pathway to Commercialization Technology Review Marketing Commercial Strategy Disclosure License & Monitor Execute License and Generate Revenues Find Commercial Partners Prior Art & Market Assessment File Patents & ID License Targets Define the Discovery Meeting 60 Days 90 Days 9 Months > 14 Dys

  6. Why intellectual property is important • The patent process was established in the U.S. Constitution “to promote the progress of science and useful arts, by securing for limited times to inventors the exclusive right to their respective discoveries.” • Provides the inventor with a twenty year monopoly for the invention in exchange for the inventor explaining how the invention works • A patent can only be granted to an inventor, not to a corporation or to a University.

  7. Why intellectual property is important ? • The Truly Staggering Cost Of Inventing New Drugs • Forbes, 2/12/2012 • “The average drug developed by a major pharmaceutical company costs at least $4 billion, and it can be as much as $11 billion.”

  8. The Patent Process / Time + 32 months to issuance in U.S. 12 months + 18 months

  9. The Patent Process / Cost $10,000 per application filed + prosecution costs + annual fees + issuance fees = $20,000 per country $1,500 $10,000

  10. Why you should care • $100 Billion / Year for Research Grants • 58% Private • 33% Federal Government (80% NIH) • 5% State and Local Government • 4% Foundations and Charities • Most parties are looking for a return on their investment • Translational Research has become much more important • JAMA 2007

  11. Why you should care University Discoveries that Changed the World

  12. Why you should care

  13. Contacts / Discussion David McClure David.McClure@ttu.edu 806-742-5899 www.texastech.edu/otc

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