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WIPO NATIONAL WORKSHOP ON INNOVATION SUPPORT SERVICES AND THEIR MANAGEMENT

Learn essential strategies for maximizing research commercialization success, from project selection to technology assessment, intellectual property rights, market analysis, and negotiation techniques. Gain insights on managing deals and ongoing commercialization activities.

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WIPO NATIONAL WORKSHOP ON INNOVATION SUPPORT SERVICES AND THEIR MANAGEMENT

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  1. WIPO NATIONAL WORKSHOP ON INNOVATION SUPPORT SERVICES AND THEIR MANAGEMENT Promotion of Commercial Exploitation and Assessment of Research Results and Inventions at Universities Muscat, April 20, 2004

  2. Introduction To achieve success in research commercialization, it is important from the outset to select projects that have the greatest potential, not only technically but also commercially.

  3. Assessment and Evaluation Even with careful assessment and prudent management, only about one in ten projects will make a profit and one in 100 will be a significant success. The lead time before a new invention reaches the market normally takes several years (at least five).

  4. Technical Assessment The technical assessment compares the new research result or development with existing products or processes and seeks to identify all the strengths and weaknesses and record their commercial significance. Technology developed because of a market need is more likely to be commercially relevant than technology that is of limited practical use.

  5. Intellectual Property Rights Assessment It is important to assess: - the IP elements in the project (for example, confidential information); - who owns project and/or the IPRs; - if the rights can be transferred to a user; - whether there has been any disclosures; - how the rights can be protected;

  6. Intellectual Property Rights Assessment It is important to assess: - whether additional valuable IP can be created; - whether there could be infringement of third party rights; - the potential cost of IP protection and management.

  7. Market Assessment A project should have ideally a large financial “up-side”; that is to say, a market potential of several million dollars per year. It is necessary to compensate for the expense and risk of developing a project.

  8. Market Assessment Information on the following should be collected: - diversity of products or processes to which the invention/R&D result is applicable; - location of markets; - $ value of individual markets; - market size as global sales; - competitive products; - competitive companies and R&D organizations; - potential allies.

  9. Further Development Required Inventions and early stage research can rarely be commercialized without further investigation and development. An estimate of the unit cost of the finished product or cost of introducing a new process is needed to help work out the potential economic benefits of commercialization.

  10. Regulatory Issues Regulations and laws governing the conduct of business can influence strongly the development and launch of a new product or process. Compliance with such laws can be time consuming and costly and must be factored into the strategy for commercialization.

  11. Financial Requirements R&D commercialization can only proceed through further investment.

  12. The R&D Team An assessment should be made of a researcher’s potential to work well with others and to achieve goals in a timely fashion. It is a golden rule that if you have to choose between a great project with a mediocre R&D team, and mediocre project with a great R&D team, the project with the great R&D team is the best choice.

  13. Commercializing Research: Optimizing the Outcomes The greater value that can be added before involving a third party, the greater the rewards. When engaging in a commercialization process one should aim to:

  14. Add Value to the Project - technical value adding - commercial value adding Reduce Apparent Risk for Investors - verifying the scientific and technical viability of the project - commercial diligence (e.g. independent assessments of the technical and IPR strength, market potential)

  15. Harmonize Technical and Commercial Strategies - have regular meetings with research workers - secure IPR and avoid premature disclosure - beware of compromising IPR. Only senior executives of a R&D institution should have authority to bind these entities in contracts and “informal” collaborative arrangements should be avoided. - ensure there is an IP policy

  16. Negotiation and Management of Deals To achieve the transfer of a technology and IPR to manufacturers and marketers requires the negotiation of a deal or several deals. The following comments will be useful: - specifically target suitable investors or developers - know your target’s business - be flexible and open minded - an investor values a project by the financial return it could provide

  17. Negotiation and Management of Deals - to the owner of the IPR, i.e., the Research Commercialization Company, a project’s value is what the market will pay for it. - get first class professional advice - even the best deals hardly ever go smoothly - build good relationships between commercial parties and researchers from the start.

  18. Research and Commercialization: On-Going Management The technology provider should continue to monitor the commercialization activities of the recipient during the course of their agreement. Diligent management of arrangements should help maintain a productive relationship and catch problems at an early stage before they become a danger to a project’s success.

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