2. INTRODUCTION
ď‚— Technology includes all aspects of applied science for
achieving a practical purpose.
ď‚— Technology is viewed as a means of combining four factors of
production( land, labor, capital and knowledge) which
increases the ability to create new product from combining
these factors.
3. Definitions
 According to G. Jones And C. Hill : “Technology is the
combination of skills and equipments that managers use in the
design, production and distribution of goods and services.”
 According to R.W. Griffin (2007) :- “Technology is the set of
processes and systems used by organizations to convert
resources in to products or services”.
4. Business and Technology
ď‚— Business and technology are inseparable, and complementary
to each other.
ď‚— Technology advancement increases the production, effective
use of resources, and brings opportunity for upgrading business
firms.
ď‚— Technological change leads to improved production of goods
and services
5. Business and Technology
ď‚— Technology which are related to business are:-
ď‚— Reduced running costs
ď‚— Improved productivity
ď‚— Improved competitiveness
ď‚— Lower costs per unit of product
ď‚— Improved quality of service (e.g. speed of service)
ď‚— Reduced wastage
6. Technology Transfer
 “The Process by which existing knowledge , facilities or
capabilities developed under R & D funding are utilized to fulfill
public and private need”.
 “Technology transfer is the process by which basic science
research and fundamental discoveries are developed into
practical and commercially relevant applications and products”.
ď‚— Import of technology also known as technology transfer which
involves sharing of skills , knowledge and facilities among
government and business so that these technological developments
are accessible to a wide range of users for commercial and welfare
purposes.
7. Contd.
ď‚— Technology Transfer Activities include: processing and
evaluating invention disclosures, filing for patents,
technology marketing, licensing and so on.
ď‚— The result of these activities will be new products, more
high-quality jobs, and an expanded economy.
8. TYPES OF TECHNOLOGY
ď‚— EMERGING TECHNOLOGY- is an innovative technology
that currently is undergoing bench scale testing, in which a
small version of the technology is tested in a laboratory.
ď‚— INNOVATIVE TECHNOLOGY- is a technology that has
been field tested and applied to a hazardous waste problem at a
site, but lack a long history of full-scale use.
ď‚— ESTABLISHED TECHNOLOGY- is a technology for which
cost and performance information is readily only after a
technology has been used at many different sites and the result
fully documented is that technology considered.
9. Problems In Technology Transfer
ď‚— Technology transfer has been the high cost and limited
capability of the resources
ď‚— Customer processing environment did not contain the
infrastructure needed for the transfer of technology
ď‚— There are also a number of political, managerial or
psychological problems which need to be addressed
10. The Objectives Of Creativity & Innovation
ď‚— To offer guidance and assistance to inventors and
corporations in matters of intellectual property
ď‚— To provide a meeting place for inventors and entrepreneurs
to come together to exchange names and provide a hands-
on learning opportunity to gain experience in dealing with
"real-world” information
ď‚— To aspects of intellectual property law practice
ď‚— To increase the general awareness of intellectual property
and its increasing importance as we further move into the
Information Age