An effective university technology transfer model should take advantage of lessons learned from the current process, tap into the power of the free market, use today’s internet technologies, and enlist emerging open innovation paradigms. The good news is that drastic change to today’s university tech transfer process may not be necessary. Let’s call this proposed model the “Plan B” approach since it introduces a second, alternative path to invention commercialization that would complement, rather than replace, the work of the university TTO. This proposed model would maintain the core of today’s university tech transfer model, but would take advantage of the power of the free market, capture the long tail of invention licensing, and make use of open innovation licensing paradigms.
In the Plan B approach, universities would give their TTO first right of refusal for new inventions, remaining the first step in the university commercialization process. Within a specified time frame, the TTO would choose one of two options: commit to managing an invention or formally turn down the opportunity and would hand the reins over to the inventor. If the TTO declined, faculty would be offered the chance to manage the invention themselves, or would be permitted to enlist third party commercial agents. The selected agent would work on comission only and would assume the costs associated with getting an invention ready for market such as patent, marketing and prototyping expenses. In essence, the agent would fully step into the role ordinarily played by the university TTO. Regardless of the TTO’s decision, the university would still retain title to the invention.
To read the full, original article click on this link: Introducing the free market into university technology transfer services « Triple Helix Innovation
