Updated September 2016
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 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 more strategic research as we ramp up to technology marketing. This involves talking with the inventor, conducting more detailed market research, and (most importantly) interviewing experts in the industry where the technology could be used to fully understand whether they truly would be interested in it. The outcomes of this research provides all the information needed to put together an efficient, cost-effective, and successful marketing plan (assuming that the technology and the market truly match up).
Our experience has shown that this phased approach is a cost-effective way to make an informed decision without suffering from analysis paralysis.
You can read more about how Fuentek’s approach has been successful at several universities in our white paper: “A Roadmap for Commercializing Federally Funded Research.” Or contact me privately to discuss how Fuentek can help your organization strategically manage intellectual property (IP) proactively, efficiently, and effectively.