Our Commercialisation Process
UMIP’s process follows a number of logical steps developed to help us realise the maximum potential of a discovery or invention.
Step 1 is for our team to make an evaluation of your idea’s commercial potential.
Assuming the assessment is positive, we next undertake work to protect your rights, find funds to develop your idea and eventually help you to form a spin-out company or licence your development to an existing business.
Please click here for an illustration of our three commercialisation routes
Seven steps to launching your invention, discovery or technology
Early contact with UMIP is necessary to discuss your invention/IP and provide guidance about disclosure, commercial assessment and protection processes.
This is the written notice of IP to UMIP that begins the formal IP commercialisation process. An IP disclosure remains a confidential document and should fully describe and record your IP so that the options for commercialisation can be evaluated and pursued.
The period in which UMIP reviews (with your input) the IP disclosure, requests patent searches (and other IP searches if applicable) and analyses the market and competitive technologies to determine the IP’s commercial potential. Based on the information gathered, a decision on whether to continue the commercialisation process will be made and which of the three commercialisation routes will be taken (see diagram above).
The process by which protection for IP is pursued to encourage third party interest in commercialisation. Protection options include patents (which can take years to process and can cost thousands of pounds), copyright, designs, database rights and trademarks.
UMIP’s Proof-of-Principle (PoP) programme can provide the funds needed to take a novel idea to a demonstration stage – validating its commercial potential – in order to attract potential investors or licensees. UMIP assists with arranging such funding.
Either form a spin-out
If the creation of a new business has been chosen as the optimal commercialisation vehicle, UMIP will work to assist the founders in planning, creating and seeking funding for the spin-out and project manage the early stages.
or find a licensee
If the IP will be best commercialised by one or more existing companies, UMIP will seek potential licensees and work to identify mutual interests, goals and plans to fully commercialise the IP.
Shares/Revenue received by the University from commercialisation are shared with IP creators and IP creators’ faculties.
Please see the University’s IP Policy for details.