Choose a knowledge transfer strategy
3. Other options
Upon completion of the development stage and based on (1) the market research results , (2) the feedback from industry and (3) the resources available for the development of a proof of concept, the LTTO teams will help you adopt the most suitable knowledge transfer strategy.
Below are some options:
- a patent licensed to a company which will be responsible for the invention development and commercialisation process ;
- a spin-off company set up to commercialize the results by means of a know-how licence and/or a patent licence;
- a material transfer agreement to sell a product which cannot be patented but is nevertheless of interest ;
- and many other options which are not mutually exclusive.
It is important to emphasise that all these steps do not only have an interest in terms of putting a knowledge transfer strategy in place but is also a way to make research projects knownbetter within the University. New contacts can have a positive impact on the research development and open up collaboration opportunities which may lead to new research contracts to/for the benefit of the UCL laboratories.
Negotiating and drawing up a licence agreement
In a strong position thanks to its expertise and business relations with the industrial sector, LTTO can negotiate and draw up knowledge transfer agreements such as licence agreement, material transfer agreement or confidentiality agreement, with the industrial partner(s) interested in a technology. This contract defines the legal framework linked to the development, use and commercial exploitation of the invention.
Creation of a spin-off
The establishment of a spin-off business is an other possible way by which technology can be transferred. This requires the researcher(s)/inventor(s) to be strongly involved in the process and that the leading team be experienced and fully available.
If the outcome of the project development process is as expected, the project leaders and LTTO will have to consider the establishment of a company. LTTO then provides advice on how to look for public and private funding or establish a company from a legal and financial point of view, with a focus on the management structures aspects.
The terms and conditions under which the University research discoveries are transferred to the spin-off are subject to negotiation between the company’s founding members and LTTO.
LTTO works hand in hand with the management on starting the company's activity, if necessary through its representative on the board of directors, in the event that Sopartec/Vives is a shareholder of the company.
The creation of an entrepreneurial project is often the result of teamwork. In this context, you can share your experience with the project leaders, or even join a management team in order to be part of the adventure of a spin-off project.