Steps to Commercialization
Commercialization is the process or cycle of introducing a new product into the market. The process ultimately begins with you.
Any experiments or observations that lead to the discovery of an original idea or invention begin the initial phase of commercialization.
II. Invention Disclosure:
Formally disclosing your idea or invention to the IP&C office by completing and submitting an invention disclosure form to Monique Patrick, Intellectual Property Assistant, is mandatory to proceed with the subsequent steps.
Once your invention disclosure form has been submitted and entered into our database, the Business Development Officer assigned to manage your file evaluates the invention for patentability. IP&C works in partnership with MaRS Innovation which is a centre of excellence for commercialization. If MaRS Innovation feels they can add value to your invention they will take the lead in commercializing your invention.
IV. Market Assessment:
As a part of evaluation process, the Business Development Officer conducts due diligence to assess factors such as competitors and market information. This is the decision-making stage which determines the commercial potential of the invention.
V. Legal Protection:
The IP&C team uses the integrated information to find suitable protection for the invention. The protection options to commercialize inventions include patents, copyrights or trademarks depending on the type of invention submitted.
VI. Licensing or Start-ups:
The file manager/Business Development Officer executes industry analysis which involves proactively contacting target companies to find the best match for introducing the invention to the market. Platform inventions may lead to a start-up however, BDO assessment determines the most profitable path.