Commercialization is the process of bringing intellectual property to the market in order for it to be exploited in order to obtain a profit from potential and/or actual business opportunity.
The success of any commercialization strategy will depend on the choice of the most appropriate commercial tool. Several practices are available to promote intellectual property in the marketplace. The most common are as follows:
Invention, innovation, branding, and much technological development begin and end in a research and development environment. To convert the outcomes of these inventions, innovations, branding, and technological development into a viable commercial proposition, time and money must be spent. For this reason, a viable commercialization strategy is important.
The four key questions that businesses should ask when planning to commercialize are:
Among our specialties are advisory services for the creation of an optimal commercialization strategy to provide your business with the best possible outcomes. Talk to us today to learn more.
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