How does Princeton University OTL market my inventions?
Licensing associates use many sources and strategies to identify potential licensees and market inventions. Sometimes existing relationships of the inventors, OTL staff and other researchers are useful in marketing an invention. Market research can assist in identifying prospective licensees. We also examine other complementary technologies and agreements to assist our efforts. We use our website to publicize inventions, leverage conferences and industry events, and make direct contacts. Faculty publications and presentations are often excellent marketing tools as well.
How are most licensees found?
Studies have shown that 70 percent of licensees were already known to the inventors. Thus research and consulting relationships are often a valuable source for licensees. Licensees are also identified through existing relationships of OTL staff. Our licensees often license more than one technology from the University. We attempt to broaden these relationships through contacts obtained from website posting inquiries, market research, industry events and cultivation of existing licensing relationships.
How long does it take to find a potential licensee?
It can take months and sometimes years to locate a potential licensee, depending on the attractiveness of the invention, its stage of development, competing technologies, and the size and intensity of the market. Most university inventions tend to be at an early stage in the development cycle and thus require substantial commercialization investment, making it difficult to attract a licensee.
How can I assist in marketing my invention?
Your active involvement can dramatically improve the chances of matching an invention to an outside company. Your research and consulting relationships are often helpful in both identifying potential licensees and technology champions within companies. Once interested companies are identified, the inventor is the best person to describe the details of the invention and its technical advantages. The most successful technology transfer results are obtained when the inventor and the licensing professional work together as a team to market and license the technology.