Commercialization Of Inventions2
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3rd Technology Commercialization Conferance Amman ...

3rd Technology Commercialization Conferance Amman

Commercialization Of Inventions2

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  • 1. 3 rd Technology Commercialization Program by Hams A. Madanat Talal Abu-Ghazaleh Organization ©2007 How to build a Successful Commercialization Strategy presented in
  • 2. Introduction
    • “ Innovation is 1% inspiration and 99% perspiration”
    • Tomas Edison
  • 3. Definition
    • What is commercialization of Inventions?
    • Commercialization of inventions is a technical term describing the process of extracting financial value from a new invention or innovative idea through turning it into a commercial tradable and profit-generating product.
    • Commercialization can be made through the inventor himself or though selling or licensing the right to an investor who will, in turn, do the commercialization.
  • 4. Methods of Commercialization
  • 5.
    • Weighing up your commercialization models should be made in light of:
    • Your overall objective
    • Your financial position
    • Available skills and resources
    • Nature of technology
    • Strength of competition
    • Range of possible use of the technology
  • 6. What can be Commercialized?
    • Conceptual ideas
    • Under developed inventions
    • Developed inventions – Innovations
  • 7. Commercialization Pre-requisites
    • Industrial applicability
    • Technical Validity
    • Market Viability
    • Patentability
    • Feasibility
  • 8. Commercialization Process
    • Convince and develop an idea
    • Build a prototype
    • Carry out an initial assessment
    • Patent the invention
    • Check “Freedom to Operate”
  • 9. Commercialization Process (Cont’d)
    • Evaluate (cont.):
      • Market Potential
      • Technical Evaluation
      • Financial Valuation( IP Valuation)
        • Cost Approach
        • Income Approach
        • Market Value Approach
        • Other Criteria
  • 10. Commercialization Process /Financial Valuation (Cont’d)
      • Financial Valuation
        • Cost Approach
          • How much did or will developing the invention will cost?
        • Income Approach
          • The 25% rule
        • Market Value Approach
          • Based on supply and demand
          • Valued by reference to similar transactions
        • Other Criteria
  • 11. Commercialization Process (Cont’d)
    • Determine your objectives and goals
    • Decide on the form of commercialization:
      • Sale
      • License
      • Joint Venture
      • start up ventures (spin offs)
  • 12. Commercialization Process (Cont’d)
    • Approach Investors
      • Marketing Avenues
      • Invention Exhibitions
      • Virtual Markets
      • Online Databases
    • Consider legal aspects of the transaction
  • 13. Challenges faced by Inventors
    • Lack of Financial Resources: lack o money to cover: (e.g.)
      • Development cost of inventions
      • Patent fees
      • Consultant fees
    • Lack of Marketing Channels and skills
    • Lack of Business Knowledge
  • 14. Who Can Contribute to the Process?
    • Funding Agencies
    • Invention Incubators
    • Non-profit Organizations
  • 15. Who Can Contribute to the Process? (cont.)
    • Venture Capital Companies
    • Technology Transfer Offices
    • Technology Brokers and Consultants
      • Commission fee based
      • Retainer fee based
  • 16. Maintaining Secrecy
    • How much should you disclose?
    • Sign NDA’s/Confidentiality agreements
  • 17. Anatomy of an NDA
    • What does an NDA include?
      • Identification of parties
      • Purpose of agreement
      • Bilateral/ unilateral obligation to maintain secrecy
      • Duration
      • Exceptions
        • Information in the public domain
        • Third party acquisition
        • Self development- reverse engineering
  • 18. Maintaining Secrecy (Cont’d)
    • Patented inventions are less vulnerable to infringement
      • Patent vs. Trade Secrets Protection
        • Before an invention is patented its considered a trade secret.
        • Consider whether you want to patent your invention or keep it a secret.
  • 19. Conclusion
    • Words of advise:
    • Be convinced with your invention in order to convince others
    • Always do your home work first
    • Consult experts
    • Build your relationship on trust
  • 20.
    • End of Presentation