As the pace of technological development becomes more and more rapid, and technology becomes more and more perishable, the importance of licensing as a means of commercialising technology will increase. The objective of this report is to help licensing practitioners achieve successful outcomes when licensing.
The research undertaken to compile this report involved an extensive review of the -licensing literature as well as exploratory interviews with industry participants. Little of the literature was academically rigorous, and much of it was very fragmented and narrow, with very few authors considering the licensing process in its entirety. The decision stage model presented here represents a logical synthesis of this literature while also drawing in other disciplines (e.g. new product development, decision theory) where gaps in this literature were recognised.
The main focus of the report is on the approach used to idel1tify, evaluate and approach potential licensees of a new technology. This approach is presented as a decision stage model for marketing technology licences. It involves the following stages :- 1. Decision to Commercialise, 2. Choice of Commercialisation Vehicle, 3. Identify Key Licensee Qualities, 4. Identify Potential Licensees,5. Package & Price the Licence, 6. Approach Potential Licensees, and 7. Negotiate Agreements. This methodology is presented here as a linear model in order to keep it as simply as possible so that it can be moulded and shaped to suit the individual circumstances to which it is applied (various