SUCCESSFUL MODELS FOR COMMERCIALIZATION OF LABORATORY TECHNOLOGY AND SOME HARD LEARNED LESSONS

Successful relationships with industry that benefit both corporate partners and the research institution require a constant balancing of interests. Researchers must balance developing technology in a manner that can be used by industry, publishing and publicizing developments so that industry recognizes the advances and the institution while protecting the technology with patents or other appropriate vehicles to preserve the commercial value. Research institutions must adopt a set of business practices that allow industry to access technology efficiently while protecting the legitimate institutional interests. Professional responsive business staff who are familiar with common industry practice, have contacts in appropriate industries and companies, and know how to publicize technology developments ensure efficient access to technology developed by the institution. The same business staff must understand the institutional and research goals in order to protect the proprietary interests of the institution. The business staff must provide benefit to the institution by receiving fair value for the technology and research developed by the institution and by ensuring that agreements are executed with only qualified companies.