Independent Inventors

Technology Commercialization Process

For independent inventors and researchers, development and commercialization of a new technology or product starts with the following steps:

The Procedure

• 1. Applied or basic research generates a new technology or product
• 2. Recognition of potential commercial applicability - UTI project managers and technology analysts can assist researchers in this stage of the process.
• 3. Invention Information Form - This form provides UTI with the basic background information about the invention to determine if it is the type of invention that is within our expertise and scope.
• 4. Confidentiality Agreement - UTI provides the inventor with a signed Confidential Disclosure Agreement (CDA) which covers detailed information on the disclosure the inventor provides.
• 5. Disclosure - The inventor provides a full and complete written description of the technology and completes UTI’s Technology Disclosure Form which will be provided by UTI along with the CDA.
• 6. Technology Assessment - Once a complete disclosure is received from the inventor, UTI begins its evaluation process. This process includes reviewing the following aspects of the invention: (UTI strives to complete assessments within 30 days.)
  
  • Scientific and technical merit
    • Is it a new state-of-the-art technology?
    • Does the inventor/researcher have experience or recent training within the technology sector?
  • Patentability
    • Is the invention new, non-obvious and useful, the criteria for patent protection? If not patentable, could the invention be copyrighted or trademarked?
  • Stage of development
    • Is the invention/technology more than an idea, i.e. is there a prototype, modeling, simulation or some demonstration of the invention’s viability?
  • Competitive advantage
    • Does the technology offer a significant improvement over existing technologies? Does the invention allow for a better or cheaper product to be created?
  • Market potential
    • Is the potential market for the technology of sufficient size to offer a significant profit?
    • Is the market growing?
    • Are the major players in this market interested and experienced in bringing new technologies to market?
    • Is it an industry which accepts and promotes new technology?
  
  
• 7. Agency/Relationship Agreement - If UTI’s evaluation of the technology indicates that there is commercial potential, the next step is to complete an Agency/Relationship agreement which outlines the legal and working relationship between the inventor(s) and UTI. The Agency/Relationship agreement will outline the commercialization strategy that will be pursued, the obligations of both UTI and the inventor and how potential monetary returns will be shared.
• 8. Intellectual Property Protection - With the aid of a patent attorney, a decision is made on the necessity, eligibility and extent of legal protection and the most appropriate method of protecting it (i.e. patent, copyright, trademark, or keeping know-how a trade secret.) UTI initially pays any costs incurred in these stages.
• 9. Commercialization Strategy - UTI and the inventor mutually agree on the most appropriate commercialization strategy. Depending on the characteristics of the product and market, the concept can be:
  
  • Sold outright to an interested individual or company,
  • Licensed to a suitable company for royalties, or
  • A new business can be formed explicitly to capitalize on the technology (start up).
• 10. Post-Agreement Management - Our skilled project managers and technology analysts provide on-going, post-agreement management and administration of intellectual property transactions.