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Martin Tto Best Practices Ver3

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Information about Martin Tto Best Practices Ver3

Published on December 28, 2008

Author: QRCE

Source: slideshare.net

Description

4th Technology Commercialization Conference
Amman
Martin Tto Best Practices Ver3
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Tech Transfer Office (TTO) Best Practices The 4th Annual Conference on Technology Commercialization “ Technology Transfer (R&D and IP Commercialization, Policies, and Investment)” Amman Jordan (12 Nov 2008) Michael J. Martin President TechTransfer Associates, Inc .

Mike Martin BChE, and MBA 15 years Business Development: DuPont, PPG, Ciba-Geigy 11 years Michigan State U.: Increase Small Business Presence on Campus, Research Consortium, New Start-Ups, IP licensing. 10 years Virginia Tech: Commercialization of Research Results and IP in Research Contracts

BChE, and MBA

15 years Business Development: DuPont, PPG, Ciba-Geigy

11 years Michigan State U.: Increase Small Business Presence on Campus, Research Consortium, New Start-Ups, IP licensing.

10 years Virginia Tech: Commercialization of Research Results and IP in Research Contracts

Why Tech Transfer is important to MENA: the “World is Flat” Situation similar to USA in ’80’s Invest in Higher Education and Research Centers: Silos of scientific discipline Discovery but no Innovation “Brain Drain”: from the Midwest to the Coasts IP more defensive than proactive Requirements for High Tech Business Growth Access to Inventions, especially basic discoveries Ease of multi-discipline collaboration Robust IP protection

Situation similar to USA in ’80’s

Invest in Higher Education and Research Centers:

Silos of scientific discipline

Discovery but no Innovation

“Brain Drain”: from the Midwest to the Coasts

IP more defensive than proactive

Requirements for High Tech Business Growth

Access to Inventions, especially basic discoveries

Ease of multi-discipline collaboration

Robust IP protection

Thomas Friedman: “The World is Flat” Global competition moving to global collaboration Introspection: Blacksburg, VA; Rapid City SD; Tunis, Tunisia

Global competition moving to global collaboration

Introspection: Blacksburg, VA; Rapid City SD; Tunis, Tunisia

Thomas Friedman “The World is Flat” 21 st Century Reform Retail – Bottom UP (Reduction of Friction) “enable the greatest number of your people to have the best legal framework within which to innovate, start companies, and become attractive partners…” It’s not about jobs; e.g. Egypt

21 st Century Reform Retail – Bottom UP

(Reduction of Friction)

“enable the greatest number of your people to have the best legal framework within which to innovate, start companies, and become attractive partners…”

It’s not about jobs; e.g. Egypt

Government IP Strategic Management Capabilities Enabling TT through: Law and Policy Training: Administrators, TT staff, and SME Patient Risk Capital (Social and $) Licensing from Government Labs (NIH v USDA v DOD)

Enabling TT through:

Law and Policy

Training: Administrators, TT staff, and SME

Patient Risk Capital (Social and $)

Licensing from Government Labs (NIH v USDA v DOD)

Government IP Strategic Management: Enablement US POLICY CHANGED IN 1980 Policy Goals : Promote economic development Enhance U.S. competitiveness through innovation Benefit public by encouraging commercialization of technologies that would otherwise not be developed into products due to lack of incentives Expand Defense supplier base.

Policy Goals :

Promote economic development

Enhance U.S. competitiveness through innovation

Benefit public by encouraging commercialization of technologies that would otherwise not be developed into products due to lack of incentives

Expand Defense supplier base.

Laws Enacted to Achieve Policy Goals Bayh-Dole Act of 1980 Stevenson-Wydler Technology Innovation Act of 1980 Federal Technology Transfer Act of 1986 (FTTA) Executive Order 12591 “Facilitating Access to Science and Technology”, April 10, 1987 The National Competitiveness Technology Transfer Act of 1989

Bayh-Dole Act of 1980

Stevenson-Wydler Technology Innovation Act of 1980

Federal Technology Transfer Act of 1986 (FTTA)

Executive Order 12591 “Facilitating Access to Science and Technology”, April 10, 1987

The National Competitiveness Technology Transfer Act of 1989

Success of Bayh Dole National Results $40 billion in economic activity that supported more than 270,000 jobs with 5,724 spinouts since 1980 628 Start-ups and 4,932 licenses in 2006 U of Cal System (9 universities ’91-’00) 4450 disclosures, 1055 “at risk” patent apps 31%(330) “at risk” patents licensed 13% (140) positive return, 0.28% (3) earned > $1 million Stanford University (’70 – ’01) 4,300 disclosures; 30% licensed 50% licensees < $10,000 income 30 (0.69%) > $100,000; only one blockbuster

National Results

$40 billion in economic activity that supported more than 270,000 jobs with 5,724 spinouts since 1980

628 Start-ups and 4,932 licenses in 2006

U of Cal System (9 universities ’91-’00)

4450 disclosures, 1055 “at risk” patent apps

31%(330) “at risk” patents licensed

13% (140) positive return, 0.28% (3) earned > $1 million

Stanford University (’70 – ’01)

4,300 disclosures; 30% licensed

50% licensees < $10,000 income

30 (0.69%) > $100,000; only one blockbuster

Assistance from the US Government to protect IP http://www.stopfakes.gov/ : 15 Country IP-Toolkits to aid American innovators and entrepreneurs protect their intellectual property. The National Intellectual Property Rights Coordination Center ; The U.S. International Trade Commission ; The USITC Trade Remedy Assistance Office ; The Office of the United States Trade Representative (USTR); The U.S. Commercial Service ; The Office of Intellectual Property Rights The International IPR Advisory Program provides: Help American businesses understand how to develop an intellectual property protection strategy for a foreign market; Help to U.S. companies facing IPR disputes abroad pursue resolution to their problems; and To request a free consultation with a volunteer attorney or obtain additional information regarding this program, visit the ABA Section of International Law web site: www.abanet.org/intlaw/intlproj/iprprogram.html

http://www.stopfakes.gov/ :

15 Country IP-Toolkits to aid American innovators and entrepreneurs protect their intellectual property.

The National Intellectual Property Rights Coordination Center ; The U.S. International Trade Commission ; The USITC Trade Remedy Assistance Office ; The Office of the United States Trade Representative (USTR); The U.S. Commercial Service ; The Office of Intellectual Property Rights

The International IPR Advisory Program provides:

Help American businesses understand how to develop an intellectual property protection strategy for a foreign market;

Help to U.S. companies facing IPR disputes abroad pursue resolution to their problems; and

To request a free consultation with a volunteer attorney or obtain additional information regarding this program, visit the ABA Section of International Law web site: www.abanet.org/intlaw/intlproj/iprprogram.html

Government IP Strategic Management: Enablement Training Customized curricula for University administrators, TT staff and SME Standard outline: What is IP, How to protect it, Why and How to be successful at TT Patient Risk Capital Social: Venues for Innovation Technologists to meet plus Permission to fail plus Be Present $: Valley of Death and Seed Venture Capital

Training

Customized curricula for University administrators, TT staff and SME

Standard outline: What is IP, How to protect it, Why and How to be successful at TT

Patient Risk Capital

Social: Venues for Innovation Technologists to meet plus Permission to fail plus Be Present

$: Valley of Death and Seed Venture Capital

What are the Barriers to Effective TT Relationship Ownership of IP Early funding: Valley of Death Early Stage Technologies Focus on the deal, not the relationship Patient Risk Capital Lack of Committed Champions Insufficient Understanding of University/Business Needs Friends and Family Federal and State Grants (SBIR and STTR) Corporate Funding Self Funding Angel Investors Venture Capital The Valley Of Death Availability of Capital Basic Research Development & Scale-up Commercial Operation

Ownership of IP

Early funding: Valley of Death

Early Stage Technologies

Focus on the deal, not the relationship

Patient Risk Capital

Lack of Committed Champions

Insufficient Understanding of University/Business Needs

Friends and Family

Federal and State Grants (SBIR and STTR)

Corporate Funding

Self Funding

Angel Investors

Venture Capital

Government IP Strategic Management: Action Mixed record at US Government labs: NIH v. USDA v DOD Taxpayer has already paid, should not pay again Not important part of the mission: pre-license proposal, public notice of bid, focus on non-exclusive licenses, paperwork and executive review What is Philippine Policy/Practice NIH TT Performance USDA TT Performance ~$90M/year Royalties ~250/year Invention licenses ~100/year Newly issued US patents ~400/year New Invention Disclosures $3.6 M/Year License Revenue 327 Total Licenses 35 US Patents Issued

Mixed record at US Government labs:

NIH v. USDA v DOD

Taxpayer has already paid, should not pay again

Not important part of the mission: pre-license proposal, public notice of bid, focus on non-exclusive licenses, paperwork and executive review

What is Philippine Policy/Practice

University IP Strategic Management: Enablement Enabling TT through: policy, structure and executive support; Training of Faculty; and Patient Risk Capital (Social and $) Tech Transfer Operations: Organization and Support

Enabling TT through: policy, structure and executive support; Training of Faculty; and Patient Risk Capital (Social and $)

Tech Transfer Operations: Organization and Support

University IP Policy/Practice COI/ COC Patent Copyright Law Bayh-Dole Law Internal Revenue Code Code of Virginia SCHEV Guidelines University Tech Transfer Policy/Practice Research Contract Negotiations Ownership of Intellectual Property Commercialization of Intellectual Property University Culture

Intellectual Property Policy at Virginia Tech Policy 13000: Policy on Intellectual Properties Ownership: Scholarship vs. Research Results Obligation to Disclose Distribution of Income = 50/40/10, unless Assigned Task Right of Appeal Ownership is transferred to VTIP which has total responsibility and authority Intellectual Property Committee Determines Ownership Evaluates Technical Merit and Potential Applications Recommends Policy

Policy 13000: Policy on Intellectual Properties

Ownership: Scholarship vs. Research Results

Obligation to Disclose

Distribution of Income = 50/40/10, unless Assigned Task

Right of Appeal

Ownership is transferred to VTIP which has total responsibility and authority

Intellectual Property Committee

Determines Ownership

Evaluates Technical Merit and Potential Applications

Recommends Policy

Setting up systems for effective management of IP Obligation to Disclose Enablement Embodiment First Record of Invention Inventive Contribution Assignment Share of Proceeds VIRGINIA TECH INTELLECTUAL PROPERTY DISCLOSURE     NOTE: Intellectual property disclosures are treated as confidential information. Except for individuals engaged in the evaluation and approval process, the information will not be divulged to others without the permission of the originator(s), except as required by law.   1. TITLE OF WORK:     2. TYPE OF WORK: Invention ___ Software ___ Book ____ Article ___ Video ______ Film ______ Other ____ (Describe)     3. LIST OF ORIGINATORS (authors, inventors, creators or other contributors) of the work.  

Obligation to Disclose

Enablement

Embodiment

First Record of Invention

Inventive Contribution

Assignment

Share of Proceeds

VIRGINIA TECH INTELLECTUAL PROPERTY DISCLOSURE     NOTE: Intellectual property disclosures are treated as confidential information. Except for individuals engaged in the evaluation and approval process, the information will not be divulged to others without the permission of the originator(s), except as required by law.   1. TITLE OF WORK:     2. TYPE OF WORK: Invention ___ Software ___ Book ____ Article ___ Video ______ Film ______ Other ____ (Describe)     3. LIST OF ORIGINATORS (authors, inventors, creators or other contributors) of the work.  

How do you measure success of University Tech Transfer? Depends on your goal Service (Happy Faculty) Economic Development (Start-ups) Focused Investment (Return On Investment) Hybrid (Some or all of the above)

Depends on your goal

Service (Happy Faculty)

Economic Development (Start-ups)

Focused Investment (Return On Investment)

Hybrid (Some or all of the above)

How organize TLO Organization: Inside vs. External Inside: Normally report to Chief Research Officer Funding is University budget with potential for sustainability Outside: Foundation or Not for Profit Business Increase flexibility for hiring, services, and equity participation Funding is foundation based with potential for sustainability Cluster multiple universities: Virginia (ALCOVE) and Florida For profit companies supply services till demand justifies investment: BTG, ARCH, TechTransfer Assoc. Budget: Patient Risk Capital

Organization: Inside vs. External

Inside:

Normally report to Chief Research Officer

Funding is University budget with potential for sustainability

Outside: Foundation or Not for Profit Business

Increase flexibility for hiring, services, and equity participation

Funding is foundation based with potential for sustainability

Cluster multiple universities: Virginia (ALCOVE) and Florida

For profit companies supply services till demand justifies investment: BTG, ARCH, TechTransfer Assoc.

Budget: Patient Risk Capital

What are the functions of a TLO? Research Agreements, MTA, CDA Encourage and Evaluate Disclosures IP Resource for University Economic Development Manage Patent Applications Market Disclosures Negotiate Licenses Manage Licenses Maintain Patents Inactivate Inactivate Administration Faculty Industry

Research Agreements, MTA, CDA

Encourage and Evaluate Disclosures

IP Resource for University

Economic Development

Manage Patent Applications

Market Disclosures

Negotiate Licenses

Manage Licenses

Maintain Patents

Tech Transfer Professional: Balance of Skills Social – Bridge two cultures and translate benefits/needs Business – Work in both not for profit accounting and investment capital, product development analysis Science – Understand the basic underpinnings and look beyond the initial application of discovery Law – Understand the basics of intellectual property law and be able to read and negotiate license agreements Dealmaker (Market/Business/Product Developer + Sales+ Negotiator) Technician (Patent Agent + Scientist + Engineer)

Social – Bridge two cultures and translate benefits/needs

Business – Work in both not for profit accounting and investment capital, product development analysis

Science – Understand the basic underpinnings and look beyond the initial application of discovery

Law – Understand the basics of intellectual property law and be able to read and negotiate license agreements

University IP Strategic Management: Enablement Training of Faculty Demonstrate how it supports outreach and research mission Standard curriculum: What is IP, How to protect it, Why and How to be successful at TT Patient Risk Capital (Social and $) Set up recognition events where faculty and entrepreneurs can meet Limited gap funding ( $ 1 – 5k for prototype only)

Training of Faculty

Demonstrate how it supports outreach and research mission

Standard curriculum: What is IP, How to protect it, Why and How to be successful at TT

Patient Risk Capital (Social and $)

Set up recognition events where faculty and entrepreneurs can meet

Limited gap funding ( $ 1 – 5k for prototype only)

Invention Patenting Patent Atty Disclosure Evaluation Marketing Licensing Protect if Publication is Imminent TECH TRANSFER: COMPLEX SYSTEM Products Business Spin offs Research Investment Inventor/ Additional Develop

Small and Medium Size Businesses (SME) Enabling TT through policy and executive support; Business Development Training; and Patient Risk Capital (Social and $) How to source and develop innovation

Enabling TT through policy and executive support; Business Development Training; and Patient Risk Capital (Social and $)

How to source and develop innovation

Why SME should be interested in IP Competitive Advantage Double ROI if University Relationship (INC, ’93) Geography: University in 29/30 High Tech Areas (Milliken) Leverage Development Subsidized development cost Access to sophisticated facilities even with IRS Regulations Windows on the Future Technology Road Map Future Employees

Competitive Advantage

Double ROI if University Relationship (INC, ’93)

Geography: University in 29/30 High Tech Areas (Milliken)

Leverage Development

Subsidized development cost

Access to sophisticated facilities even with IRS Regulations

Windows on the Future

Technology Road Map

Future Employees

IP management strategy for SME How does IP enhance the growth strategy of the SME Valuation and Investment issues based on IP Monetization of non-tangible assets of IP

How does IP enhance the growth strategy of the SME

Valuation and Investment issues based on IP

Monetization of non-tangible assets of IP

Ideal IP Strategy for SME Practices of companies achieving the “Visionary” status ( best practices for industry) Align IP strategy with corporate strategy and obtain management buy-in Conduct competitive assessments Patent strategically by identifying and exploiting trends in their industry to create new rules in the game Manage their IP across multiple functions and have a proactive licensing organization. [1] [1] Davis Julia, KMPG, Intellectual Asset Management: A View Across Many Companies, LES Winter Meeting, February 14, 2003 IP Value Hierarchy Visionary (Drive growth) Integrated (Manage for growth) Profit Center (Manage for profitability) Cost Control (Control costs, improve productivity) Defensive (Build portfolio, protect markets and technology)

Practices of companies achieving the “Visionary” status ( best practices for industry)

Align IP strategy with corporate strategy and obtain management buy-in

Conduct competitive assessments

Patent strategically by identifying and exploiting trends in their industry to create new rules in the game

Manage their IP across multiple functions and have a proactive licensing organization. [1]

[1] Davis Julia, KMPG, Intellectual Asset Management: A View Across Many Companies, LES Winter Meeting, February 14, 2003

IP Value Hierarchy

Visionary (Drive growth)

Integrated (Manage for growth)

Profit Center (Manage for profitability)

Cost Control (Control costs, improve productivity)

Defensive (Build portfolio, protect markets and technology)

Setting up systems for effective management of IP in an SME Appropriate Protection: Trade Secret, Patent, Copyright, Know How, Trademark Timing: Status of Publications If Patent: Select Appropriate Counsel Set up Docket Management System Facilitate Inventor/attorney meeting Upon issuance, set up maintenance fee payment

Appropriate Protection: Trade Secret, Patent, Copyright, Know How, Trademark

Timing: Status of Publications

If Patent:

Select Appropriate Counsel

Set up Docket Management System

Facilitate Inventor/attorney meeting

Upon issuance, set up maintenance fee payment

Triage of IP: Evaluation then Valuation of Intellectual Property Commercialization Decision Technical Merit Commercial Opportunity Protectable Licensing Negotiations Cost Approach Market Approach Income Approach Relief from Royalty

Commercialization Decision

Technical Merit

Commercial Opportunity

Protectable

Licensing Negotiations

Cost Approach

Market Approach

Income Approach

Relief from Royalty

Determination of Monetization Strategy Based on Triage of Portfolio and Strategy of Firm: Define “Core” and “Non-Core” IP Determine best utilization of IP portfolio = Product Commercialization, Licensing, Assertion Confirm that sufficient patient assets are available to implement strategy.

Based on Triage of Portfolio and Strategy of Firm:

Define “Core” and “Non-Core” IP

Determine best utilization of IP portfolio = Product Commercialization, Licensing, Assertion

Confirm that sufficient patient assets are available to implement strategy.

Out comes of a successful business licensing operation Licensing revenues, Total Licensing revenues, Net Licensing revenues, or Cost avoidance $ income/patent: IBM ~$30k/patent; DuPont ~$25k/p; Intel ~ $25k/p, and GE ~1.5k/p licensing revenue received as a percentage of R&D dollars: DuPont = ~31%; IBM = ~23%; GE = ~4.5%; Intel = ~4% Purchase Orders Winning Design Competitions and Design Freedom Public Relations Opportunities Equity Potential Purchase Discounts Business Unit Synergies Potential to Break Negotiation Deadlocks (Source: Don Merino, Success Factors in High Tech licensing, LES Annual Meeting, Sept, 24 2003)

Licensing revenues,

Total Licensing revenues, Net Licensing revenues, or Cost avoidance

$ income/patent: IBM ~$30k/patent; DuPont ~$25k/p; Intel ~ $25k/p, and GE ~1.5k/p

licensing revenue received as a percentage of R&D dollars: DuPont = ~31%; IBM = ~23%; GE = ~4.5%; Intel = ~4%

Purchase Orders

Winning Design Competitions and Design Freedom

Public Relations Opportunities

Equity Potential

Purchase Discounts

Business Unit Synergies

Potential to Break Negotiation Deadlocks

(Source: Don Merino, Success Factors in High Tech licensing, LES Annual Meeting, Sept, 24 2003)

Development of License Goals & Objectives Platform Technology Heavy Investment — Exclusivity / Focus on Leaders Light Investment — Probably Non-Exclusive / Cover All Incremental Technology Heavy Investment Dominated — Exclusive to Leader OR to Wanna-Be’s Fragmented — Non-Exclusive to any or all [tough sell] Light Investment Dominated — Exclusive to Leader or to Wanna-Be’s Fragmented — Non-Exclusive to all OR — Field of Use to grant Mini-Exclusives Valuation Analysis to Determine Starting Point Implementation of Licensing Strategy

Development of License Goals & Objectives

Platform Technology

Heavy Investment — Exclusivity / Focus on Leaders

Light Investment — Probably Non-Exclusive / Cover All

Incremental Technology

Heavy Investment

Dominated — Exclusive to Leader OR to Wanna-Be’s

Fragmented — Non-Exclusive to any or all [tough sell]

Light Investment

Dominated — Exclusive to Leader or to Wanna-Be’s

Fragmented — Non-Exclusive to all OR — Field of Use to grant Mini-Exclusives

Valuation Analysis to Determine Starting Point

Develop single page, non-confidential description with: problem solved, benefits of solution, potential applications, and status. Conduct market research and identify opportunities Identify Contacts: Primary source is Inventor Use Web effectively Implementation of Licensing Strategy

Develop single page, non-confidential description with: problem solved, benefits of solution, potential applications, and status.

Conduct market research and identify opportunities

Identify Contacts: Primary source is Inventor

Use Web effectively

Lessons Learned by TLO in Dealing with Faculty Work with only 10-20% of the faculty – identify the stars and determine their interest in commercialization. Ask questions: not an expert in anything but IP and business development Offer assistance to complete disclosures Review negotiations and valuations but explain there can only be one person at the table Nothing breeds success like success – “Porsche in Parking Lot”

Work with only 10-20% of the faculty – identify the stars and determine their interest in commercialization.

Ask questions: not an expert in anything but IP and business development

Offer assistance to complete disclosures

Review negotiations and valuations but explain there can only be one person at the table

Nothing breeds success like success – “Porsche in Parking Lot”

Lessons Learned by TTO in Evaluation Policy must be clear about Ownership: Scholarship vs. Supported Research Results TTO must Create Desire to Disclose Initial review should be fast and based on interview with inventor. Information reduces risk and raises value Be the source of market feedback Do not ignore paperwork

Policy must be clear about Ownership: Scholarship vs. Supported Research Results

TTO must Create Desire to Disclose

Initial review should be fast and based on interview with inventor.

Information reduces risk and raises value

Be the source of market feedback

Do not ignore paperwork

Lessons Learned by TTO in Patent Management Has there been a prior art (patents and literature) search completed? Has a patent application or copyright been filed? What is the application status? If not filed: What is the assessment of the: Novelty (Prior Art), Obviousness, Useful (Utility) If the invention is still confidential, is there a published procedure for maintaining a trade secret? What is the scope of the claims in the Patent or the Patent Application – Broad or Narrow Types of Claims: Material of Composition, Method to Make, etc.

Has there been a prior art (patents and literature) search completed?

Has a patent application or copyright been filed?

What is the application status?

If not filed:

What is the assessment of the: Novelty (Prior Art), Obviousness, Useful (Utility)

If the invention is still confidential, is there a published procedure for maintaining a trade secret?

What is the scope of the claims in the Patent or the Patent Application – Broad or Narrow

Types of Claims: Material of Composition, Method to Make, etc.

Lessons Learned by TTO in Patentability Is there freedom to operate? Are other patents required to utilize the invention? Does the copyrighted material utilize any Open Source code? Would patent infringement be detectable and enforceable? Would patent claims protect a developer’s investment in developing and marketing a product or service? Are International patents necessary to derive value sufficient for investment to commercialize the invention? Ownership. Has an assignment been completed by all identified inventors, including third parties? Are there any prior claims to the invention or the copyrighted work?

Is there freedom to operate? Are other patents required to utilize the invention?

Does the copyrighted material utilize any Open Source code?

Would patent infringement be detectable and enforceable?

Would patent claims protect a developer’s investment in developing and marketing a product or service?

Are International patents necessary to derive value sufficient for investment to commercialize the invention?

Ownership.

Has an assignment been completed by all identified inventors, including third parties?

Are there any prior claims to the invention or the copyrighted work?

Lessons Learned by TTO in Negotiation Prepare your position/Understand theirs Request an offer Listen Actively… and carefully Probe their rationale and yours Create options/make counter offers Confirm agreement and benefits to each side Close firmly, amicably, and define the next step.

Prepare your position/Understand theirs

Request an offer

Listen Actively… and carefully

Probe their rationale and yours

Create options/make counter offers

Confirm agreement and benefits to each side

Close firmly, amicably, and define the next step.

Lessons Learned by TLO in Start-ups University/Employee Conflict of Interest policies Who negotiates Role of TTO - Facilitator Proceeds of License Who holds equity How are proceeds distributed WHY DO MOST START-UPS FAIL? Poor planning. Lack of management ability. Insufficient capital. Misreading the market. Emotional rather than logical decisions. Ego and greed.

University/Employee

Conflict of Interest policies

Who negotiates

Role of TTO - Facilitator

Proceeds of License

Who holds equity

How are proceeds distributed

WHY DO MOST START-UPS FAIL?

Poor planning.

Lack of management ability.

Insufficient capital.

Misreading the market.

Emotional rather than logical decisions.

Ego and greed.

Example: Direct Marketing with Start-up Initial Marketing VTIP/Atlas Product = Beta Tested Price = $32,000 to $16,000 to $5,000 Promotion = Newsletters, Trade Shows, Testimonials Position = Another advancement from VT Protected Niche = Loyal to Librarian Solutions Now OCLC/Atlas

Initial Marketing VTIP/Atlas

Product = Beta Tested

Price = $32,000 to $16,000 to $5,000

Promotion = Newsletters, Trade Shows, Testimonials

Position = Another advancement from VT

Protected Niche = Loyal to Librarian Solutions

Now OCLC/Atlas

Conclusions Tech Transfer is Complex, Non-Linear Process Career with unique skill requirements Long term investment for societal good (advance knowledge, new jobs, new products, and new businesses) Start-up operations require: Agreement on success, goals and source of capital Sufficient supply of disclosures and demand for licensing new technology Administration, Faculty, Governmental and Business Champion(s)

Tech Transfer is

Complex, Non-Linear Process

Career with unique skill requirements

Long term investment for societal good (advance knowledge, new jobs, new products, and new businesses)

Start-up operations require:

Agreement on success, goals and source of capital

Sufficient supply of disclosures and demand for licensing new technology

Administration, Faculty, Governmental and Business Champion(s)

Invention Patenting Patent Atty Disclosure Evaluation Marketing Licensing Protect if Publication is Imminent Questions ???? Products Business Spin offs Research Investment

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