Steps to follow to commercialise intellectual property
Research – In the University context, IP can be viewed as the outcomes and results of research. These may include outcomes with commercial potential, such as a new compound, a component or piece of equipment, or a piece of software.
Researchers contact OUI – Oxford researchers who have created IP are asked to contact Oxford University Innovation (OUI) as early as possible to discuss their IP and the next steps.
Disclosure of invention – OUI will ask researchers to complete an invention record form, together with forms IP1 and IP2.
IP assessment and due diligence – OUI log the IP project and pass the IP forms to the IP Rights Management team for checks of background funding and involvement of external parties. Rights clearance is secured where necessary and University rights assigned to OUI.
OUI conduct their own assessment of patentability and commercial value.
IP protection – If OUI consider the IP to be patentable and of commercial value, a patent application will be filed. Alternative strategies and forms of protection may also be discussed with the researchers.
Commercialisation – OUI will discuss with the researchers and other interested parties to determine the most appropriate commercialisation strategy and actions to be taken. Depending on the invention and the circumstances, this could involve formation of a spin-out company, or licensing the IP to an existing company or companies.
Revenues – Revenues received by OUI from licensees are distributed to the researchers and the University according to the University’s revenue sharing policy as laid out in the Statutes and Regulations.