How does the TTO market my invention?
The TTO uses many sources and strategies to identify potential licensees and market inventions. Sometimes existing relationships of the inventors, the TTO, and other researchers are useful in marketing an invention. Market research can also assist in identifying prospective licensees. In addition, we also examine other complimentary technologies and agreements to assist our efforts. Faculty publications and presentations are often excellent marketing tools as well.
Where are potential licensees found?
Licensees can be identified in many ways. First, the inventors often are aware of the commercial companies who would be interested in the work. Industry -specific marketing efforts including trade show participation, affiliations and market research carried out by the TTO also seeks to identify potential licensees. Additionally, issued patents listed by the USPTO can provide names of companies who currently have patents similar in nature and often times these can prove to be potential licensees as well.
How much inventor involvement is there in the licensing of technology?
Studies have shown that 70% of licensees were known to the inventors. Thus research and consulting relationships are often valuable sources for licensees and TTO encourages the participation of inventors. The more involved and interested the inventor(s) are in the licensing of a technology the higher the chances are that successful licenses will be secured. Normally the inventor(s) are the first best source of information on what companies would be interested in licensing the technology. Once interested companies are identified, the inventor is the best person to describe the details of the invention and its technical advantages. The most successful technology transfer results are obtained when the inventor and the licensing manager work together as a team to market and promote use of the technology.