Commercialisation

What is commercialisation?

the act of commercializing something which then involves something in commerce.

• "the government tried to accelerate the commercialisation of this development"

• "both companies will retain control over the commercialization of their own products"

• "It is a pity that Christmas has become so commercialised"

• 'The commercialisation of football has turned it from a sport into a business"

How does the process work?

1) A potential industry/company send a letter of their intentions and the background of their company/institution to the commercialisation office for authorisation.

                                                                                      OR

A researcher will identify a potential industry for successful business and then link them to the commercialisation office.

2) The innovations and commercialisation office will evaluate how much potential the industry has of becoming successful and decide whether or not they go ahead with the scope of application.

3) The innovations and commercialisation office then organise a meeting between everyone involved.

4) They then will prepare non disclosure agreement's (a legal contract between at least two parties that covers confidential information that the parties wish to share between one another for individual purposes, however restrict access to or by third parties).

5) Both parties within the agreement will make a commercialisation agreement with terms and conditions.

6) A progress report will be submitted to the company that have succeeded by the innovations and commercialisation office.

7) Finally, all payments will be payed such as royalties, loyalty fees, etc.