Intellectual Property

Understanding issues related to Intellectual Property (IP) is very important as you start down the path to commercialization. Please reference the following two resources for useful information on intellectual property.

What is intellectual property? “Intellectual Property” means the material or communicable result of scientific, humanistic, literary, and artistic endeavour. It includes, but is not limited to, works in the form of scientific discoveries and inventions, designs, patents, trademarks, books, monographs, papers, paintings, drawings and sculpture, performances, computer software, and lecture and conference presentations.” (Intellectual Property Policy, 1994)
Why protect intellectual property? Intellectual property is a valuable asset. It is very important to develop a plan for protection of intellectual property before intellectual property is placed in the public domain, as commercialization partners will only spend money and allocate resources if they have some form of exclusivity for some period of time. Aside from the monetary compensation that can be obtained from selling or licensing intellectual property, intellectual property protection stimulates further scientific discovery through sharing of ideas in the form of copyrighted materials and publications or issued patents. But most importantly, intellectual property protection prevents others from unfairly capitalizing on the creator’s research and hard work.
Does publication affect intellectual property rights? It is very important to consider intellectual property rights, patentability and commercial potential before publication. Publication (or placing research results in the public domain) can be through traditional channels such as a peer-reviewed journal, conference presentation, poster session, abstracts or workshop. Publication can occur, however, simply by discussing an idea with colleagues on a non-confidential basis. Without proper protection in place, publication can nullify intellectual property rights.
Can intellectual property still be patented after publication? One of the patent requirements is novelty. In North America, inventors have a one-year grace period after publication in which to file a patent application; however filing before publication is preferred. The rest of the world maintains a standard of absolute novelty, meaning that a patent application cannot be filed after an invention has been made public. Therefore, to ensure worldwide patentability, publication should only occur after a patent application has been made.
What is Commercialization? Commercialization is the art of taking an invention or a technology and developing a product or service for either consumers or industry. There are many ways to accomplish this including: licensing the intellectual property to another entity; developing a product and using agents to bring it to market; or creating a new company. In all cases successful commercialization requires: capital, expertise, resources, management, ongoing research and development, and luck.
Does patentable mean it has commercial value? Intellectual property is patentable if it is novel, useful and not obvious. Intellectual property has commercial value if it can be used in the development of a product or service that generates sufficient revenues to cover the costs of market development and intellectual property protection. It is also possible to commercialize a technology that has not been patented, depending on what that technology is.
What can be commercialized? Essentially any invention can be commercialized. Intellectual property can be commercialized if it addresses an opportunity; has advantages over what is currently being used; and has a significant commercial application. Experience shows that the opportunities that draw the most attention are where the technology either creates a new market or significantly changes the framework of an existing one. Examples of intellectual property that may be commercialized are: 1) technology that works well in the creator’s laboratory and may work in others, 2) tools the creator has developed to help in their research, such as software or reagents; and 3) technology that a company is already interested in.