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Finding Anchor Customers An anchor customer is one that provides a substantial amount of business on a recurring basis. These customers are important as they give you a base level of business each month. You save the time and cost of prospecting for the customer as they are already signed…

When Should You License Your Technology Instead of Building a Startup In commercializing your technology there are two primary paths:  building a startup or licensing the technology to others. You should consider licensing your technology when the following conditions exist: The development cost of bringing the final product to market…

How To License Your Technology Licensing your technology to another company provides another path to commercialization. Here are some key steps to licensing your technology: Prepare information about the technology including an introduction, product description, and manufacturing information. Also document the product benefits, market research, and pricing. The product information…

What Is Licensing in Commercialization Licensing in commercialization is the right to manufacture and sell a product with the technology of another company.   In return for the right, the licensee pays a royalty fee for each unit sold. Licensing brings the following advantages to the licensee: You gain the know-how…

Key Legal Documents Used in Commercialization There are several legal documents used in the commercialization process Here's a list of key documents to know: Non-disclosure agreement -- referred to as an NDA, this document requires the signatories to confidentiality with regards to information about the project. Material transfer agreement --…

Different Paths of Commercialization There are different paths of commercialization. These paths include startups and licensing. Founders license the technology from the source and then establish a company to create a product to sell for a profit. The startup requires a team to build, sell, and support the product. The…

Innovation Models Technology commercialization applies new technologies to the formation of a business. Innovation drives technology commercialization. To grow your business you may need to foster the development of the technology and its supporting functions. Here are several innovation models to consider to grow your technology. Open innovation model. Some…

Intellectual Property in Commercialization A key component in commercialization is intellectual property. Intellectual property refers to work or invention that comes from the creativity of the mind such as a design, literature, or artistic works.  It comes in several forms including patents, copyrights, trademarks, trade secrets, and industrial designs. Government…

Testing Your Idea for Commercialization Before commercializing your technology, test the idea with these questions: What product should you build? There are many ways to apply technology to a problem. Who is the target customer and can they pay for it? It's important to gain clarity on your target audience…

Key Steps in Commercialization Once you start down the path of commercialization, there are some key steps to accomplish. Determine patent strategy. There are several ways to protect intellectual property including patents, trade secrets, trademarks, and more. Review each option for your technology. Gain a Freedom to Operate opinion. This…