Technology transfer is the deployment of research innovations for maximum public benefit. In universities, this involves the creation of a technology transfer office (TTO) to manage intellectual property and other aspects of commercialization for research conducted at the university. TTOs are sometimes known by other names, such as licensing offices or research and development offices. The performance of TTOs can be measured in various ways, including the number of licenses granted to companies and partnerships created with outside firms.
The main function of a technology transfer office with respect to collaborative research is to protect the IP associated with innovations developed at a university and then bring those innovations to market. This process is often done through the patenting of intellectual property, which gives ownership rights to whoever holds the patent. It may also be accomplished through the creation of start-up companies that are given the right to use a specific invention.
These technologies can be anything from life-saving drugs and medical devices to alternative energy solutions, computer hardware, software or even new modes of transportation. The inventions that have been brought to market by technology transfer offices can make the world a better place, resulting in innovations such as Gatorade and Google.
Another important function of technology transfer is to create links between academia and industry. This is important for both sides, as it can help to foster new collaborations and innovation in the workplace. It can also boost the prestige of a university and its scientists, as well as increase funding for further research.
