However, there are two other reasons why LES and similar associations have been so successful and why they continue to grow. These are the client demand and the professional demand. In the case of LES, it is primarily concerned with technology transfer. This includes the licensing of industrial and intellectual property rights as well as other forms of commercialization of intangible assets. Increasingly, innovation and the transfer of technology is recognized as being fundamental to economic growth, successful business performance and improved stability in an uncertain world.
Technology embraces the means by which people use innovations to satisfy their needs and desires.
The rate of technological change is proceeding at an exponential rate due principally to the development of the computer. Technology has enabled man to exercise a degree of control over nature and lead to the development of what we regard as the modern society. Technology provides benefits through increased production, reduced labor, improved labor utilization and higher living standards. However, at the same time, technology has lead to environmental pollution, the depletion of natural resources, technological unemployment and ethical and legal problems which have never before been confronted. The impact of these benefits and detriments on the world, in part, drive the need for greater connectivity between various entities and individuals in respect of which associations such as LES are an important means of facilitation.