What Is The Main Function Of A Technology Transfer Office?

Technology transfer is the process of moving cutting-edge innovations from university laboratories into commercial products, services and processes. It involves identifying developments that could benefit the marketplace, obtaining patents and copyrights to protect them, and licensing products or processes to existing companies or new businesses. Its practitioners work with universities and their scientists to ensure that research is translated into accessible solutions to improve human lives.

The main function of a technology transfer office is to secure intellectual property rights and find out suitable commercial partners. These partnerships enable university researchers to develop innovative, high-potential technologies that are ready for the world market.

There are multiple benefits for society from successful technology transfer. They include jobs creation, economic development and strengthening global competitiveness. It can also lead to new ideas and products that help solve social problems, such as improving health care, saving lives and creating cleaner environments.

Aside from securing the rights of inventors, TTOs can help bring innovation to market by providing advice on product development, marketing strategies and business planning. They can also work with investors and venture capitalists to secure funding for projects.

For example, the National Institutes of Health (NIH) has a technology transfer specialist who helps NIH inventors and their institutions to identify potential licensees and collaborators for inventions that could become medical products or other applications. Through such resources as Federal Register notices and the NIH website, potential licensees are made aware of NIH inventions and discussions begin with the NIH technology transfer specialist.

These discussions can then result in an agreement, a license or other collaborative agreement, to develop the invention further into a medical product. This can also involve other activities, such as research, collaboration and training.

This process can be complicated, as there are often many parties involved: the inventors themselves, the institution under which they do their research, outside companies and investors. It can also involve multiple legal steps, such as the invention disclosure process and a patent application.

Besides securing the right to use an invention, TTOs can also negotiate royalty rates and other terms of agreements with external companies or organizations that want to license a technology. They can also help to ensure that the inventors’ rights are protected and that any agreement is fair and equitable.

Technology transfer professionals often have to deal with the complexities of the patenting process, as well as the many challenges involved in finding and managing commercial partners. They must determine whether an invention is valuable enough to pursue a patent, if it has the commercial potential to generate revenue and how to fund its development. They must also identify and manage conflicts of interest between the inventors and their academic institutions.