Commercialisation of IP
What is commercialisation? Commercialisation is where property is used or disposed of in return for payment, whether in cash, in kind or in any other form. In this Section the property which is being commercialised is IP. Commercialisation is often the only way to ensure that investment is committed to IP to make sure the benefits of that IP reach the general public.
In the same way as a house can be bought and sold, IP can also be sold or transferred to another owner. This is referred to as an assignment. The buyer is called the assignee.
IP can also be licensed. This is similar to a ‘lease’ of a flat. The IP owner permits someone else (the licensee) to use the IP in return for payment.
If IP has been developed with a lot of potential for commercialisation, it may be appropriate to transfer the IP into a separate company which is dedicated to its commercialisation. These are commonly referred to as ‘spin-out companies’ (or ‘spin-offs’ or ‘start-ups’).
For more in depth information on this section please see both Researchers’ Guides below: