National & International Collaborations
his University understands its role as a knowledge-intensive institution within the National System of Innovation to work towards the generation of intellectual property of many kinds, to facilitate the commercialization of Intellectual Property, and to increase the number of patents developed. To this end, the University pursues mutually beneficial partnerships with research-based companies and the private sector. The classic technology transfer process has four general steps.
Technology Transfer Process
What is your innovative idea? What is so unique about it?
The journey to transforming your innovative idea into a commercial product/service begins with you filling in an innovative Disclosure Form. The purpose of this form is to capture as much detail about your invention as possible in a concise manner so that the Office of Research Development and Innovation can initiate the technology transfer process. You will also be requested to sign a Non-Disclosure Agreement form which serves to ensure that all parties involved will not disclose of any kind of information that has to do with transformation of your innovation into a commercial product/service. By upholding to the agreement of the Non-Disclosure form, you can be sure that your innovation will be protected.
Is your idea feasible? Do you have a prototype?
In order to assess the economic and technical viability of your innovation, a team of experts, scientists and engineers in the university will be selected. They will thoroughly put your innovation to the test, to understand and confirm the science, technology, and engineering of it. Various elements of assessing if an innovation will do well in monetary terms as a product/service in the market will be looked at as well when carrying out the economic feasibility of the innovation. If you have a prototype, the team of experts will be called in for an exploratory visitation where you will demonstrate fully what your innovation is through the prototype.
3. Intellectual Property (IP) Protection:
Proceed to talk about IP protection or is it the end of the journey with the office?
The office has now assessed the viability of your innovation; they have seen your prototype. So, what now?
- The Office and the team of experts will agree based on the feasibility study that your innovation is economically and technically viable. They will contact you to let you know that you are now ready to proceed to the next stage.
- The Office and team of experts will agree based on the results of the feasibility study that your innovation is not technically and economically viable. They will contact you to give you feedback and that will be the end of the journey with the Office. Sorry! Try again with another idea next time.
Congratulations, your innovation is technically and economically viable. You will now be familiarized with the concept of Intellectual Property Protection that is carried out by Companies and Intellectual Property Authority (CIPA) and explore your options of engaging in a business relationship with the university. This simply means that you will be looking at the options available towards legally protecting your innovation.
Your innovation will be protected under one or more of the following categories:
- Trade Secret
- Utility Model
- Industrial Design
- Geographical Indications
Does BIUST Agree to Invest Or NOT?
You will now be in talks about writing business proposals, creating a company and deciding on shares. Royalties will be shared between BIUST and the innovators according to the institute’s IP policy which observes the 25% Rule of Thumb.
There are three options available to you:
If you decide to form a partnership with BIUST, a Spin-Off Company will be formed and the university will help market your product or service to find appropriate commercialization partners. This includes developing Technology Transfer Package, Technology Marketing, finding Investment partners and Contracting. In the case that BIUST declines on the partnership offer, a partnership may be formed with a different company where all risks and processes associated with the business will be transferred to that company.
You can choose to grant to a licensee as a licensor the permission to have access to the intellectual property rights at an agreed fee or royalty.
You can choose to start the business yourself without forming any partnership with any institution or licensing your intellectual property rights to any interested party.