Invention Commercialization
Assess the commercial potential and societal benefits of an invention as well as its technical feasibility.
AN INVENTION鈥橲 POTENTIAL MERITS - Assessing an invention鈥檚 Commercial potential
Innovative technology has inherent risk associated with its feasibility, scalability, and performance in real-world applications. TT&C attempts to mitigate such risk by working with 91茄子鈥檚 inventors and industry partners to help validate the invention鈥檚 patentability, its technology's efficacy, and the potential market demand.
Note: Not all discoveries or inventions are suitable for a patent.
An invention鈥檚 journey from inception to commercialization typically involves several key stages, each with its own set of activities, challenges, and milestones. The figure below summarizes the initial stages to get an invention ready for market.
The first stage begins when a researcher identifies a potential invention and submits a Disclosure to TT&C for evaluation.
When assessing the commercial potential and societal benefits of an invention, it's essential to consider a range of metrics that provide insight into both its market viability and its anticipated impact on society.
Patent and Marketability evaluation steps
If the disclosed invention passes the patent eligibility test, the next step is to review with a patent attorney who may, for example, determine the claims stated in the Disclosure are too narrow. This could be resolved by more research on a broader application but if not, the invention may be closed.
AN INVENTION'S TECHNICAL READINESS - Assessing the Technology鈥檚 Viability
Assuming the commercial advantages and societal impacts of your research are well-established, the next step involves evaluating its distinctiveness, current stage of development, and the necessary criteria for successful commercialization.
This assessment is a deeper dive to help determine how unique the invention鈥檚 technology is compared to existing solutions, identify its readiness for market entry, and outline what is needed to transform it into a viable commercial product.
Accurate valuation of a technology's potential helps secure investment and establish successful commercialization strategies.
The Technology Readiness Level (TRL) scale provides a structured framework to assist in the valuation process by categorizing the invention鈥檚 technology readiness into distinct stages. Each stage details the specific development steps required to transition from concept to market-ready product.
Index as to how ready the invention鈥檚 technology is for commercial application
AN INVENTION鈥橲 MANUFACTURING READINESS - Assessing the Technology鈥檚 Manufacturability
If the invention is not closed, we examine its Manufacturing Readiness Level (MRL) which helps us define the current level of manufacturing maturity shortfalls and risks.
There are various factors that come into play when taking an invention from the lab to a commercially successful product; namely,
- Product manufacturability at a reasonable cost
- High quality acceptance rates during production
- Support and maintainability throughout the product鈥檚 lifecycle.
At a minimum we need to affirm the invention can be manufactured with consistent results.
Index as to how ready the invention鈥檚 technology is for commercial application
