Commercialization Process
Step 1: Invention Disclosure
An invention disclosure is a document that details the information necessary to evaluate the patentability, inventorship, market and any obligation to research sponsors.
Inventors must disclose all inventions to the University prior to any commercialization activity.
Ontario Tech University has an inventor-owned Intellectual Property (IP) policy. However, if the inventor elects to have the University commercialize the technology on their behalf, the IP ownership must be assigned to the University.
Connect with our IP Officer if you have any questions regarding this process.
Step 2: IP Assessment
Inventors can indicate in the invention disclosure form if they wish to work with the University to commercialize their technology. Our team will review the submitted technology and perform a due diligence analysis that will include novelty, prior art search, technology readiness level (TRL), market size, competitive landscape and future outlook. This analysis helps our team to decide if the University should invest into this technology, and to formulate an IP protection strategy and the best knowledge mobilization avenue (eg. start-up, licensing, partnership).
The University will consider investing in technologies that have reached the validation stage in development (TR4). IPs that are approved for commercialization must then be assigned to the University by the inventors. If the Office of Research Services (ORS) decides to not proceed with commercialization after the assessment, then ownership of the IP will be retained by the inventors.
Step 3: IP Protection
A critical step in commercialization is to keep your invention confidential from any public disclosures prior to IP protection. The ORS will ensure the IP is protected and that it will be given proper stewardship to ensure the technology is developed to its highest potential.
IP protection is a costly and a complex process. The ORS provides expertise to navigate through this complex process in a strategic approach. Our team will take the lead in securing IP assets and handling all legal and administrative expenses associated with patent filing and prosecution.
Protected IP can be leveraged to bring in revenue from third parties for collaborative development of the IP.
In some cases, inventors may elect to launch a new venture around the protected IP.
In either case, a licensing agreement or an option agreement from the University is needed to facilitate these transactions