Intellectual Property Commercialization & Economic Development
Universities, hospitals, and research centers conduct a lot of research that generates groundbreaking inventions, that not only save lives, but improve the way we live, work, and play on a daily basis. Learn more about how technology transfer benefits you. View video .
Technology transfer is the process of transferring scientific findings from one organization to another for the purpose of further development and commercialization. The process typically includes:
- Identifying new technologies
- Protecting technologies through patents and copyrights
- Forming development and commercialization strategies such as marketing and licensing to existing private sector companies or creating new startup companies based on the technology
Academic and research institutions engage in technology transfer for a variety of reasons, such as:
- Recognition for discoveries made at the institution
- Compliance with federal regulations
- Attraction and retention of talented faculty
- Local economic development
- Attraction of corporate research support
- Licensing revenue to support further research and education
IPCED is also responsible for drafting and negotiating all of the University's legal intellectual property agreements, such as confidentiality, material transfer and licensing agreements.