There are no direct financial fruits from merely owning a patent. There are a lot of patents and products which are lying useless in federally funded universities and research laboratories across the country. A patent or product must be adopted, purchased or leased by a corporation for development.
The Technology Transfer Agents are present to complete the cycle of innovation by bringing to the market, products and services resulting from federally funded research institutions. They are also considered the catalysts for innovation.
The only reason for being a transfer agent is to make federally funded research available to private industry, for discovering new applications for new inventions, technologies, and products. To return royalties and revenue back to the research agency.
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Author: SmallBiz-Resources.com
