Technology transfer is the process of sharing skills, knowledge, technologies, methods of manufacturing, and facilities between governments, institutions, and other organizations so that scientific and technological developments can be accessible to more users. Many companies, universities, and government organizations now have technology transfer offices to identify potentially commercially interesting research and strategies to exploit it. Effective technology transfer requires cross-functional core teams, action-oriented phase reviews, documented structured development processes, and integrated development tools to improve project speed and efficiency. Technology transfer helps research and commercialization, and can be protected under intellectual property laws and documents like assignment agreements and licenses. It plays an important role in economic development by increasing resources, further exploiting resources, and boosting productivity.