Virginia Tech Intellectual Properties

D. Intellectual Property: MARKETING

Contacts are made with potential commercialization partners, A non-confidential explanation of an intellectual property is sent with a letter. Contacts are identified by:
1. The researcher often can suggest potential licensees.
2. VTIP has a list of contacts.
3. A database search is conducted for companies in the field.
Publicity in trade and peer-reviewed magazines, and through professional presentations, etc. is encouraged. VTIP attends a number of conferences and industry trade shows. VTIP's web site (www.vtip.org) has a list of available technologies.
A license is negotiated.
1. If the license is to a major business/industry:
  It may include more research (back to step A-2), and
  The researcher may be hired as a consultant as part of licensing
2. If license is to a small company:
  The research and consulting component may be larger, and
  Equity interest may be a part of the deal.
3. A new company is started to commercialize the intellectual property.
VTIP can help find capital and the management team. You may be a member of the management team.
If these contacts do not result in a license, than outside marketing agents with risk capital are contacted. They will evaluate, and determine interest. If interested, they will sign a marketing license and pay for patenting and marketing costs. VTIP and marketing agent share in the licensing revenues.

Learn more by clicking on each of the Four Steps: