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CHAPTER 8: COMMERCIALIZATION OF NEW TECHNOLOGY-BASED PRODUCT, AINI SOFIA…
CHAPTER 8: COMMERCIALIZATION OF NEW TECHNOLOGY-BASED PRODUCT
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Commercialization
The stage where the product has been decided to go through production and ready to be launched.
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2 Approaches Taking R&D Output to the Market
:pill: Disseminating innovation freely through academic publication such as journals and proceedings of research conference. This approach does not promise maximum benefit to the innovator.
:pill: Allowing the researcher (innovator) to monopolize the benefits of R&D in the form of intellectual properties (IP) and commercialization of the IP.
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5 Different options that can be taken to commercialize product.
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Spin-Out
Besides venturing from within the established R&D institutions, universities or established business organizations, the innovators may also have the option to leave the parent organization and establish independent new ventures to commercialize the patent he owned.
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Outright Sale
The completion of R&D allows the researcher to sell the R&D output before applying for patent rights.
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The factors why researchers sell their R&D outputs
:check: The cost to secure a patent right is higher than the product potential value.
:check: The new technology-based product is competing with a promising substitute product (the developed technology has already matured and in the substitution stage)
:check: High market development cost is required since the market is not yet ready for the product.
:check: To avoid the hassles associated with patent application processes.
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Licensing Patent
Involves permission to exercise patent rights - a permission to make, use, offer for sale, sell or import a patented invention.
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For example
The area of exploitation allowed by the licensing agreement
Performance obligation demanded by the licensor over the license in order to ascertain consistent financial return.
The amount and frequency of royalties to be paid by the license.
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Patent Assignation
An irrevocable exploitation right given by an assignor to an assignee.
An assignor refers to the original patent holder while an assignee is the person who receives assignation of the patent.
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Spin-Off
A researcher may choose to commercialize his invention through the creation of a new technology-based venture.
The researcher assumes the role of a technopreneur by creating a new venture from within an established organization like a university or a company.
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Life Cycle Technology
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3 stages of Life Cycle
Research and development phase
Growth Phase
Maturity Phase
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6 Phases of the Technology Market Life-Cycle
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1. Technology development phase
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2. Application launch phase
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3. Application growth phase
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4. Technology mature phase
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5. Technology substitution phase
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6. Technology obsolescence phase
AINI SOFIA BINTI MOHD ZOPRI (2017302875) EH2207C
