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Technology transfer is the process by which a technology or expertise or know how that is developed by one individual or group is transferred to another individual or group. Effective technology transfer results in commercialization of a new product or service or in the improvement of an existing product or process. Technology may be transferred from research laboratory to an existing or new business, or from a business in one country to another country, or from industry to industry.
Our role here is one of advice and we will work with legal professionals to ensure that all risks are minimized. We provide guidance and advice on the following:
- The source of the technology even if from a laboratory or university; Is it Novel or Derived?;
- The complexity and the level of development of the technology;
- Separation of true potential from hype;
- How to adapt the technology and incorporate into your product line;
- The relevance, availability and cost effectiveness of alternative technologies,;
- The commercial value of the technology and hence the price to be paid (in cash or kind);
- Other conditions for transfer, such as support offered during and after transfer in absorbing and adapting the new technology, or rights over improvements or adaptations made by the recipient;
There are various methods and legal arrangements through which technology may be transferred or acquired including:
- Outright sale or assignment of IP rights
- Licensing of IP rights
- Franchise -
usually based on a trademark or service mark or a trade name and a special décor (the “look”) or design of the premises - Joint Venture Agreements -
Includes Equity joint ventures.
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