The purpose of this article is to familiarize non-intellectual property lawyers and those IP attorneys who don't practice primarily in the U.S. with issues that arise in negotiating technology transfer agreements with U.S. universities. For companies developing products in fields as diverse as biochemistry, pharmaceuticals, medical devices, information technologies, electronics, basic chemistry, materials sciences and applied physics, technology transfer agreements present an economical way to gain control of cutting-edge technology.
Creative research is crucial to market success in today's emerging knowledge-based economy.
Economical access to leading-edge technology can mean the difference between success and failure for companies working to expand their market share by exploiting new technologies. Public and private universities in the U.S. have historically been centers for pure research with little thought given to developing their new technologies for profit. In the past universities viewed their roles as teaching, research and delivery of critical health care services through their health care facilities and teaching hospitals. As information technology expands our abilities to access, analyze and share knowledge, universities have started, over the past decade, to accept that research and technology are commodities they can sell. Today more and more universities are reaching out to industry through technology transfer programs to commercialize university research.