Step 4: Protection (est. completion time: 2-4 years)
After assessment, OTD will take any necessary steps to protect the intellectual property of your invention. IP protection is often in the form of a patent, a legal protection method that begins with filing a patent application with the U.S. Patent and Trademark Office. In addition, foreign patent applications will take place if appropriate. Issuing a patent is often a lengthy process. The amount of time this process will take depends on the invention and patent strategy.
Step 5: Pathways to Market (completed simultaneously with step 4)
There are two commercialization paths: form a new startup business or license your invention to an existing company. OTD will help to guide this process and decision making based on technology and market analysis.
If you are licensing to an existing business, see step 6A. If you are forming a startup, see step 6B.
Step 6A: Existing Business
If the invention will best be commercialized by one or more existing companies, the technology licensing officer will seek potential licensees and work to identify mutual interests, goals, and plans to fully commercialize this technology.
Step 6B: Startup
If creating a new startup is feasible and the inventor is interested in participating, our office can assist you by connecting you to valuable startup resources.
Step 7: Licensing
A license agreement is a contract between OU and a third party (either an existing company or a startup) in which OU’s commercial rights to a technology are transferred for financial and other benefits.
Step 8: Commercialization
The licensee (startup or existing company) continues to advance the technology and makes other business investments to develop it. This step may entail further development, regulatory approvals, sales and marketing, support, training, and other activities.
Step 9: Revenue
Below is how the revenue from the invention will be distributed:
35% to the inventor(s)/discoverer(s) as submitted on the Invention Disclosure Form
20% to the original college(s), hlf of which go to the originating department
20% to the Growth Fund maintained for each originating campus
15% OTD to apply to operational expenses
5% to the campus VP of Research
5% to the President's discretionary fund
Step 10: Reinvestment
A portion of the revenue generated from commercialization is reinvested to further current campus research. The Growth Fund, for example, strengthens the commercial potential of OU innovations, providing support for future technologies to reach the marketplace. Commercialization activity can also lead to new opportunities for sponsored research and internships and jobs for students.