What is Commercialisation?

Commercialisation is the process of transferring intellectual property to the marketplace for commerical benefit

Why Commercialise?

• Provide a benefit to industry / community

• Create economic value

• Build research reputation

• Career advancement

• Gain funding for further research

• Personal financial gain

The Commercialisation Process

Inventions which come from academics and professional staff are deemed to be the property of the employer i.e The University of Newcastle.

Newcastle Innovation's role is to assess the commercial potential of inventions. If Newcastle Innovation believes the disclosed invention will be beneficial to the University, a patent protection will be applied for. Newcastle Innovation will then assist with the search for a commercial partner.

The 5 steps in the commercialisation process are disclosure of the invention, assessment of the invention, strategy on taking the invention forward, marketing the IP and negotiation of the contract.

1. Disclosure

The technology commercialisation process begins with the inventor disclosing his or her complete invention in writing by preparing an invention disclosure form and submitting it to Newcastle Innovation. The form should contain a complete description of the invention, dated signatures of all inventors and dated signatures of witnesses who understand the invention. This information is then used to develop a patent application.

2. Assessment

The completed invention disclosure form is checked for completeness of the invention description and the technology is evaluated by our BDM’s for protectability and commercial potential. NI may request additional information from the inventors to fully understand the disclosed invention.

3. Strategy

The BDM will work with the researcher to develop a business plan and strategy to market. This includes pricing, risk and target markets.

4. Marketing

Once an idea has been disclosed, NI will undertake market research to evaluate the commercial potential of an idea. This market research will help identify potential licensees as well. A non-confidential description of the idea is published on our website and include in our technology portfolio. The BDM’s will proactively approach potential licensees to determineinterest, especially those identified by inventors. In addition the BDM's may discuss the possibility of a start-up company being formed as a commercialisation vehicle, of which the inventors are typically involved.

5. Negotiation

Once a potential commercial partner has been engaged, they or NI may request confidentiality, material transfer, or option agreements be put into place so that the technology can be more fully evaluated prior to licensing. NI will negotiate and execute these agreements and any licensing terms. Once a technology has been licensed, NI maintains an ongoingrelationship with the licensee. This relationship helps to keep open avenues for further technologies as well as to ensure that the terms of the licensing agreement are upheld.

Understanding Patenting

A Patent is a statutory right to the exclusive use of an invention. That is, it gives the patent owner the right to prevent others from making, selling, using or importing the invention for as long as the patent remains in force.

A patent is effective only in the country in which it is granted (but may extend to territories to which the laws of that country apply).

For an invention to be considered patentable, it must satisfy the basic criteria of being new and useful. In general, the invention should be of an industrial, commercial or trading character, as opposed to a purely artistic or intellectual exercise. In Australia, the invention is required to be novel and involve an inventive step having regard to what is known or used at the time when the patent application is first filed.