Commercialization

The path to commercial markets by the licensee will vary depending on the nature of the invention, the market, and its stage of development.

Licensing

OTC uses many sources and strategies to identify potential licensees and market inventions. Sometimes existing relationships of the inventors, the Tech Park staff, and other researchers are useful in marketing an invention. Studies have shown that 70% 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 the Office of Technology Commercialization, Rowan Innovations, and the South Jersey Technology Park.

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 the cultivation of existing licensing relationships. 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. A licensee is chosen based on its ability to commercialize the technology for the benefit of the general public. Licenses typically include performance milestones that, if unmet, can result in termination of the license. This termination allows for subsequent licensing to another business.

Start-Up

Forming a start-up company is an alternative to licensing the IP to an established business. If a new business start-up is chosen as the preferred commercialization path, you will be referred to business specialists for the next steps in the commercialization process.

Rowan faculty typically serve as technology consultants, advisors or in some other technical developmental capacity. In many cases, the faculty role is suggested by the start-up investors and management team who identify the best role based on the inventor’s expertise and interests. As the company matures, and additional investment is required, the inventor’s role may change. Faculty involvement of any kind in a start-up would typically be reviewed by a Rowan Conflict of Interest Committee. Student inventors and post-docs may choose to join the start-up upon graduation but rarely have the experience or business skills to serve as the company’s sole management. As a separate entity, the start-up will pay for its own legal matters, including all business incorporation matters and licensing expenses.