Researchers involved in product development are expected to implement innovative ideas to make commercially viable products. The technology transfer process is fundamental to developing new products through a partnership between universities and commercial organizations and launching the finished product into the market. One aspect of this process is the concept of intellectual property - the right of ownership to innovative ideas that drive product development. Ideas, being intangible, are distinct from products and these can be patented to control their commercial usage.
Researchers involved in product development are expected to implement innovative ideas to make commercially viable products. The technology transfer process is fundamental to developing new products through a partnership between universities and commercial organizations and launching the finished product into the market. One aspect of this process is the concept of intellectual property - the right of ownership to innovative ideas that drive product development. Ideas, being intangible, are distinct from products and these can be patented to control their commercial usage.