Transcript: steps to consider during a commercialisation journey

Last updated: 
3 July 2017

If you’re in the early stages of your business, it’s time to consider how you will make money from your intellectual property. While there’s no single journey, there are steps to consider.

Step 1 – Understand commercialisation. You’ll come across terms such as pathway, strategy, vehicles and business structures.

Step 2 – Decide how to source and protect your idea.

Step 3 – Review the IP background, also known as due diligence.

Step 4 – Choose your commercialisation vehicle option. From selling your IP rights to creating a joint venture, there’s many ways to make money from your idea.

Step 5 – Choose your business structure – the legal entity you will operate as.

Step 6 – Decide how to fund your idea. You might find a ‘business angel’, decide to crowdfund or apply for a government grant.

Step 7 – Finalise your commercialisation plan!

Visit IP Australia’s website for more information [On screen - Visit: ipaustralia.gov.au].