Updated October 11, 2011
Too often in my work, I see organizations trying to commercialize inventions without really considering the commercial viability of the technology. Just because you can get a patent on an innovation doesn’t automatically mean you should commercialize it.
So wouldn’t it make more sense to evaluate a technology’s commercial potential before investing in patenting and marketing it? I think so, and that’s why we always recommend first evaluating a technology’s commercial viability from a market perspective.
To keep costs under control, Fuentek does technology evaluations in two phases. First we do a preliminary screening, spending just a few hours reviewing the invention disclosure and conducting market research to determine whether it’s worth taking a closer look at its commercial potential. (You’d be amazed at how many inventions do not “pass” this preliminary screening.)
If the preliminary information suggests that a technology might have commercial potential, then we do a more in-depth assessment. These assessments involve talking with the inventor, conducting more detailed market research and most importantly, interviewing experts in the industry where the technology could be used to understand whether they truly would be interested in it.
We compare the outcomes of this research against key factors—market structure, size, competitive landscape and other forces at play for an invention to be commercialized—to develop a commercialization rating. (Editor’s note: Check out our webinar “Stop Reacting, Start Proacting: Planning for Strategic Technology Marketing” for more about how to perform market-based assessments.)
Our experience has shown that this approach is a cost-effective way to make an informed decision without suffering from analysis paralysis.
Have others found that this type of approach is helpful? What other techniques do you use to make patenting and commercialization decisions?
