How does TTO help to commercialise my idea?

There is no single process for commercialising research, but the TTO will use their expertise to recommend the most appropriate strategy for your invention. Activities performed by the TTO include, but are not limited to, conducting market research and analysis, coordinating appropriate IP protection, actively marketing your idea to potential customers and partners, and assisting with any relevant negotiations throughout the commercialisation process.

What is licensing?

One commercialisation option is to seek licensing from an established company.

A license is an agreement that grants another entity rights to the University's intellectual property. The University retains ownership of the invention, and depending on the individual license agreement, it may be possible to license IP to multiple entities at any given time.

To assist in seeking licensees the TTO uses different strategies to market inventions and identify potential licensees, depending upon the nature of the invention. Market research conducted during the assessment phase can assist in identifying potential licensees or market segments to be targeted. We may utilise existing industry relationships or build new contacts, through meetings, conferences, trade shows, etc.

Once a potential licensee has evaluated the invention and has shown interest in licensing, we will prepare a proposal for approval by the company, draft a licensing agreement and oversee license negotiations.

What is a start-up?

In some cases, the TTO may recommend that a new company be formed to commercialise an invention.

Forming a start-up is an alternative commercialisation approach to licensing. Reasons for choosing to form a start-up may be that the invention provides both a large competitive advantage and large potential market, potential returns are high, there are great or complex development risks that existing companies may not be willing to take on, to name a few. The TTO will work with the inventors to determine whether this is the preferred route to market.

The TTO has the resources and specialists to provide the necessary support for your start-up. We will assist you with tasks such as developing your business case, sourcing prospective management for your entity, seeking investors and other funding streams, and building your networks.

Starting a company may take considerably more time and effort than licensing, and the inventors may need to be heavily involved in the planning and formation processes, particularly in the early stages of the start-up.

What are commonly used agreements in the technology transfer process?

Two frequently used agreements are non-disclosure agreements (NDAs) and material transfer agreements (MTAs):

• NDAs: Used in the exchange of confidential information. An NDA is a legal agreement which defines information that the parties wish to protect from dissemination and outlines restrictions on use, and are commonly used when two or more parties wish to enter into initial discussions about specific processes, methods or technology for the purpose of determining the potential for a future relationship.
• MTAs: Used in the exchange of tangible research materials. MTAs are a legal contract that allows for the exchange of materials, such as chemicals, software, plant- and animal-derived material, or research animals, between universities and other organisations for research purposes.

The TTO can also assist with negotiating proposals and other terms for engagement with industry partners, e.g. collaborative research agreements.