At OTTED, the process typically begins by reviewing an invention with its inventor to learn about potential applications. Such invention disclosures must be evaluated for their novelty, viability and commercial potential.
The licensing and marketing strategy is then developed, and the technical and market risks are considered in order to decide whether to seek patent protection.
Working with the inventor, OTTED seeks out companies that might be interested in the invention and target a product champion within a company before negotiating a licensing agreement.
If successfully licensed to industry or to a start-up company, cash royalties collected by OTTED provide funding to the inventor's department, school or center to support further research, as well as personal shares for the inventor.