The final stage consists of transferring and successfully exploiting the new technology. The objective of this is for the company to become familiar with the new technology, to gain confidence in its operation and to reach profitability as soon as possible.
In the technology transfer phase the company obtains written documentation and training which may be in the premises of the licensor or licensee or both. In some cases, the licensor will specify new equipment which needs to be purchased. The licensor may assist with design work, with pilot production and with trouble-shooting.
After the technology transfer phase is over the supplier of the technology can help with on-going technical assistance on a consultancy basis. In many cases the licensor can give marketing assistance based on its experience in its own market. Remember, if royalties are involved it will be in the interests of the licensor to ensure that the licence generates sales.
How Enterprise Ireland can help
Enterprise Ireland has technologists and experts with specialist knowledge of different business and industrial sectors. These experts can give technical and commercial assistance to help get the new technology implemented and to help the company gain access to new markets.
TechSearch has provided case studies covering a number of successful technology acquisition projects by Irish based companies in various sectors.
The following is a listing of useful references and websites;
Innova Programme - InterTrade Ireland
Intellectual Property Unit - Enterprise Ireland
Research Technology and Innovation Scheme - Enterprise Ireland
Further Reading
Managing Technology and Intellectual Assets - by Kieran Comerford
CTM Books
www.kcomerford.com
Open Innovation - by Henry Chesbrough
Harvard Business School Press
Click here to return to 7 Steps Guide Homepage
