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Commercialization

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Commercialization & Franchising (P)

Commercialization of IP is the process of bringing together registered intellectual property (IP) to the market in order for it to be exploited in return for profit from potential and/or actual business partner.

The success (financial success) of any Intellectual Property Commercialization will depend on the choice of the most appropriate commercial tool, largely depending on the organization’s business objectives, form of intellectual property, and economic resources at its disposal Several practices are available to promote a protected Intellectual Property into the marketplace. The most typical are as follow:

1) Internal Product Development
2) IP Assignment
3) Knowledge Transfer
– Licensing
– Franchising
– Joint Venture
– Spin-Off
– Material Transfer Agreement

It is important to conduct risk due diligence in any Intellectual Property commercialization.

Risks should also be counted for in any IP commercialisation. The following should always be taken into account when planning for any IP commercialisation:

1) Nature of the Intellectual Property
2) Confidentiality
3) Nature of the product/service
4) Financial status/matters
5) Legal issues
6) Business Reputation

Invention, innovation, brands, and many technologies begin in a Research & Development environment, and usually it is not practical for commercial use in the very early stage. This spectrum requires time and money as systems are engineered that will make the product or method a paying commercial proposition.

The four key aspects that businesses should focus on below planning for commercialisation are:

1) When to launch?
2) Where to launch?
3) Whom to target?
4) How to launch?