After identifying a potential target, licensing is the next phase required for a transfer to occur. Understanding the licensing process and how to obtain the best agreement is critical to the success of both parties. The technology itself will usually require unique tools, know-how, equipment, or even trained staff -and are often rolled into the licensing agreement.

Referenceforbusiness.com explains the potential legal and contractual mechanisms as follows:

• Licensing—the exchange of access to a technology and perhaps associated skills from one company for a regular stream of cash flows from another.
• Cross-licensing—an agreement between two firms to allow each other use of or access to specific technologies owned by the firms.
• Strategic supplier agreement—a long-term supply contract, including guarantees of future purchases and greater integration of activity than a casual market relationship.
• Contract R&D—an agreement under which one company or organization, which generally specializes in research, conducts research in a specific area on behalf of a sponsoring firm.
• Joint or Cooperative R&D agreement—an agreement under which two or more companies agree to cooperate in a specific area of R&D or a specific project, coordinating research tasks across the partner firms and with sharing of research results.
• R&D corporation or research joint venture—the establishment of a separate organization, jointly owned by two or more companies, which conducts research on behalf of its owners.
• Research consortium—any organization with multiple members formed to conduct joint research in a broad area, often in its own facilities and using personnel on loan from member firms and/or direct hires.

The process of technology transfer can differ wildly from one scenario to the next and can be difficult to navigate for someone who is not familiar with how it works. For this reason, we are here to help with your transfer needs. We can help no matter the stage of technology development, budgets, long-term goals, or the level of contract creativity required.