IP commercialisation refers to the process of transforming innovative ideas and research outcomes into tangible products, services, or technologies that can be brought to market. By commercialising IP, researchers and businesses can create new revenue streams, and drive industry growth.
Collaborations between researchers and businesses can be one way to harness the potential of IP. By pooling resources, expertise, and networks, both parties can leverage their strengths to accelerate the development and commercialisation of IP.
Collaborations enable researchers to gain access to industry insights, funding opportunities, and market knowledge, while businesses can tap into cutting-edge research and innovation. Together, they can create a synergy that leads to groundbreaking advancements and market success.
Before entering into a collaboration, it’s essential to carefully consider the contributions of all parties involved, and how existing or new IP will be managed. Collaborations involving IP can be complex, particularly when existing IP is built upon during the collaboration. Background IP refers to existing IP that belongs to one of the parties, while third-party IP is owned by an external entity.
Before you commercialise your idea, you should also consider whether you need to file for IP protection.
To facilitate successful collaborations between businesses and universities, the Higher Education Research Commercialisation (HERC) Intellectual Property (IP) Framework has been established. This framework provides valuable support to businesses by offering information on IP in university-industry collaborative research and templates to assist in the negotiation process. The Framework serves as a comprehensive resource to navigate the complexities of IP management within collaborative projects.
For more information on how to effectively commercialise your IP and explore collaboration opportunities, visit our commercialisation and collaboration page.
We have a range of resources that cover various aspects of the commercialisation process, including the HERC IP Framework and different commercialisation pathways. By exploring these resources, businesses and researchers can gain valuable insights and guidance to effectively navigate the complexities of IP commercialisation and collaboration.