Sometimes, knowledge is best disseminated through its publication and release into the public domain. But in many cases the most effective way of realizing the social benefits of research-based knowledge is to protect it under IP laws and sell or transfer it to a company capable of transforming inventions into new products.
When managed strategically, transfer of research results can lead to benefits for society at large as well as the industry sector and institutions concerned.
《Benefits for society》
Transfer of academic research is expected to improve the quality of life generally through:
• new products and services, meeting human needs in healthcare, environmental challenges and other critical areas; and
• new businesses (start-ups, spin-offs) and jobs.
《Benefits for industry》
Collaboration with universities and PRIs can strengthen industry by:
• providing companies with IP that they can invest in to develop early-stage technologies;
• providing technical assistance to local firms;
• giving companies the opportunity to work with top university researchers;
• securing companies’ access to more basic (“blue-sky”) research fields;
• enabling them to commercialize new products, generating growth and profit; and
• strengthening the local economy – increasingly, communities around research institutions are becoming high-tech innovation clusters, attracting a highly educated labor force and building a strong innovation sector.
《Benefits for institutions》
For universities and PRIs, the ultimate benefits of knowledge/technology transfer are usually not financial. While licensing revenue is occasionally generated, the principal benefits are indirect and should be considered in the longer term. They include, among others:
• Attracting key talent – Universities that embrace a robust technology transfer environment are more appealing to entrepreneurial faculty, scientists and students who see the institution as a successful pathway for both career development and bringing innovation to market.
• Funding – Successful technology transfer often attracts additional research funding.
• Prestige – Institutions that succeed in moving discoveries from the lab to the marketplace often create a prestigious following.
• Enhanced quality of research programs – Interaction with the private sector often results in access to state-of-the-art industrial equipment, improved skills and techniques and better understanding of market needs.
• Enhanced teaching – Institutions frequently benefit from the participation of industry-based lecturers and real case studies.
• Faculty career opportunities – Collaboration with industry can facilitate exchanges of staff between the institution and businesses and alumni intake in firms.
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