As the majority of TED's activity is related to patents the following summary follows the flow for patentable technology. The process is similar for other technologies, such as copyrightable software, but is generally shorter as the investments are typically lower, and the markets are generally more clearly defined. Regardless of the protection strategy (i.e. patent, copyright, or other) the process begins with the submission of an Invention Disclosure Form from the Inventors to TED.
TED staff, Michigan Tech's IP counsel, then review the disclosure and communicate with the inventors to provide a preliminary determination of the need and potential for protecting the technology and the approximate market potential. If a patent seems appropriate and potentially achievable, and if the technology appears to have enough market potential to justify the expense of patenting, licensees are sought and patent filings are made. Licensees are commonly identified by the inventors themselves as they likely have experience in, or knowledge of the market they are seeking to enter. On average, 50% of technologies licensed by universities in the United States are licensed through direct contacts of the inventors.
After a licensee is identified with significant interest, TED staff works with the Licensee and Michigan Tech's Intellectual Property Counsel to prepare, execute and enforce the terms of license agreements. TED also disburses royalty payments received to inventors and their department per University Policies.
The above description presents a simplified description of a process that can become involved and time consuming. While active involvement of the inventors is generally an important component of a successful commercialization strategy, TED provides significant support for the process so that inventors can participate where needed, but otherwise focus their efforts toward furthering their individual research and teaching goals.
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