Commercialisation is a term that is much touted about in entrepreneurial circles.  It stems from the creation of intellectual property that enables the owner to protect the work that they have put into developing the IP.
IP Australia defines Intellectual property (IP) as “the property of your mind or intellect. It can be an invention, trade mark, original design or the practical application of a good idea”.  IP can manifest itself in the following ways:

• - Copyright;
• - Trademarks;
• - Registered Designs;
• - Patents;
• - Circuit layout rights;
• - Plant breeders rights;
• - Confidential information; and
• - Trade secrets.

es for commercialisation of IP are available?

Commercialisation can take many forms.  At its heart is the attempt to maximise the commercial value of intellectual assets by converting the IP into a saleable product for the benefits of its owners.  Generally this involves collaborating with some third party that adds value to the IP.

The main vehicles for commercialising intellectual property include:

• - IP Licensing;
• - IP Sale (Assignment);
• - Entering into a Joint Venture;
• - Mergers and acquisitions; and
• - Spin out company’s.

In all of these cases, there are a minimum of two parties, the IP owner and the party that adds value to the IP by having a market for or having access to a market that will assist to realise the value in the IP.

IP Licensing

A license is in essence a right to use, therefore, the terms of licence agreements can be very broad.  That said, they generally involve a payment of royalties in various forms. Read more about Licensing.

This article is general in nature and cannot be regarded as legal advice.  It is general commentary only.  You should not rely on the contents of this article without consulting a lawyers.  If you would like advice regarding how the law applies to your individual circumstances, then please contact a legal practitioners Contact Us.