There is no doubt about the fact that without a properly functioning of technology transfer office no research organization can benefit from the technology transfer process. To get a clear idea of functions performed by these technology office of technology transfer let us start from the beginning.
What Is Technology Transfer?
Technology transfer is a process in which discoveries of a University or institutions are transferred to another organization for further development of the technology in a commercialized application or product or service that can be used for the betterment of the people. There are specific procedures that are to be followed for technology transfer and it is done according to the Bayh-Dole Act that was passed by the Congress in the year 1980. Since then practice of technology transfer has been adopted by most of the Universities and other research institution that has benefitted both the organizations and society as well.
Roles Played By Technology Transfer Services –
* Providing A Common Platform – The technology transfer office on the Universities function as a common platform for both the organizations – the University as well as the organizations that are getting the technology.
* Presenting The Research And Innovation – The first thing that the transfer office does is selection of the researches and innovations and discoveries that can be transferred. This is done on the merit of the research as well as the commercial value of the research. While selecting the researches they make sure that the end product will attract the prospective organizations and application of the invention will be beneficial for the society.
* Processing The Technology Transfer – Technology transfer is a detailed procedure that needs to be done step by step. There are some legal formalities and comprehensive documentation that needs to be done for flawless technology licensing. Without the expert help of the technology transfer services this is not possible for the scholars of the University to execute this complex procedure.
* Taking Care Of The Intellectual Property Rights – The most important part of technology transfer procedure is the Intellectual Property Rights and its safeguard. It is the duty of the technology transfer service offices to make sure that the rights are protected during the transfer process and even beyond that. According to the law the patent of the research that is being transferred should be obtained in favour of the organization where the research was done. Then only the process of licensing technology can be executed.
* Royalty Of The Researchers – Apart from these aspects, the technology transfer office also looks after the royalty sharing between the two organizations involved in the technology transfer process. Generally the financial benefit is shared by the inventor as well as the University or research organization. If the research was funded by federal Govt. then the proceeds of the technology transfer needs to be spent on research.