Commercialization
The Commercialization of university-developed technology is the vital process of translating cutting-edge research and innovation into products and services that benefit society. The Division of Research proactively facilitates this transfer of knowledge from the lab or studio to the marketplace.
This section details the critical steps undertaken by BGSU Research Technology Transfer (RTT) to achieve this public benefit. Successful commercialization is a collaborative, multi-step process that relies on a strong partnership between the BGSU innovators, RTT, and the commercial entity - from established corporations to new startups - to realize the full potential of BGSU's intellectual property.
RTT is responsible for all negotiations related to the execution of license agreements with third parties, which allows for product development, production, marketing and sales of the innovation.
Licensing
- BGSU's goal is to license innovative creations, technologies, and inventions and transfer the benefit of such innovations to an external entity to commercialize and make available to the public.
- Entering into a licensing agreement with BGSU will allow the external entity to access the innovations and provide them with the right to use and commercialize innovations.
- All licensing negotiations are handled directly between RTT and a representative of the company. The process of licensing an innovation can be a long one. License agreements often include requirements for payments in the form of upfront fees, minimum annual royalties, milestone payments, and sometimes transfer of equity.
- Successful commercialization depends on many factors, including the company's ability to further develop an innovation, their interest, prior business experience in the field of the innovation, financial capital, market opportunities, quality of management, complimentary assets, etc.
Product Development
- Benchmarking tests are often required to demonstrate the product/service advantages and to position the product in the market.
- The licensee’s performance is monitored by RTT for the duration of the license.
- Most license agreements require periodic financial or development reports from the licensees.
- The role of the innovators may vary depending on the interest of the licensee company in utilizing your services.
- Involvement may be limited by the BGSU policies, and a separate sponsored research agreement may be required.
- The launch and use of a new product is the final stage of a product development.
- Significant money will have to be spent for advertising, sales promotion, and other marketing efforts on this nearly launched product.
Updated: 11/07/2025 03:28PM