Step 4 - Marketing and Commercialization
Your Role in the Marketing Process
As an inventor, you play a key advisory role in the value proposition. Because you are most familiar with your invention, your vision and insights can make the critical difference. Most faculty find this advisory role to be much appreciated, enjoyable and not excessively time consuming. You can help in the marketing process by:
- Educating attorneys and OTD staff about potential applications of the underlying technology.
- Thinking of people who might be interested in your invention and building a list of companies with competing technologies, people who communicate with you or visit your lab, those who attend your conferences, etc.
- Thinking of alternative commercial applications: By definition, your idea is non-obvious and unique. Could it be applied in a way that is not obvious in a particular industry?
- Answering questions from potential licensees and thinking about your technology from their points of view. These discussions may lead you to new, more valuable discoveries or research.
- Providing related material to your case manager that will help him or her match your invention to potential markets (e.g., old copies of the publications you read, materials and exhibitor directories from meetings or conferences you attend, and any other information that relates to the marketing and commercialization of your own or related technologies).
- Being honest about your invention’s shortcomings and competing technology: A complete picture will help find the most suitable licensee.
OTD’s Role in the Marketing Process
Marketing begins at the time you disclose an invention. Some marketing activities carried out by OTD include:
- Developing a non-confidential marketing brief emphasizing the value proposition to submit to prospective companies.
- Performing market research to identify prospective licensees or alternative markets.
- Adding the technology to the OTD website under Technologies Available for Licensing.
- Proactively approaching potential licensees to determine interest, especially those identified by inventors.
- Leveraging other traditional marketing resources, including industry search engines and databases, direct personal contacts, direct mail and opt-in email campaigns, technical presentations, and industry conference and trade shows.
Commercializing the Technology
Many might argue that commercialization is one of the most important steps in the process. UNL commercializes technologies in most instances by licensing the technology to an established or, in appropriate circumstances, a startup company created to commercialize the technology.
When the technology is to be licensed:
- Companies and/or entrepreneurs likely to be interested are approached and, after signing a confidentiality agreement, are given an opportunity to evaluate the invention. Your suggestions of companies and/or entrepreneurs to be approached are extremely valuable.
- A license proposal is prepared if the company and/or entrepreneur shows strong interest. If the case manager is successful, license negotiations will begin. Negotiations generally require flexibility and creativity by both parties in order to arrive at a mutually satisfactory agreement.
If forming a company around a technology appears to be the best way to commercialize a technology, OTD staff will work with you to get your input and will determine the best method of moving forward.
More information about the Licensing Process
More information
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