Marketing to Find a Licensee
It can take time to find the right licensee for your invention, but the Innovation Ventures team is your perfect partner to find the right match.
Finding a Match
Once a patent application is filed, your licensing manager prepares a non-confidential summary of the invention and begins marketing the technology to potential licensees using many sources and strategies to identify potential licensees and market inventions.
You Can Help, Too!
Market research using database tools assist in identifying prospective licensees. Sometimes existing contacts and networks of the inventors and the Innovation Ventures staff are useful in marketing an invention. Faculty publications and presentations often serve as excellent marketing tools as well.
Our team encourages your active involvement in marketing as it significantly improves the chances of finding a potential licensee for your technology. Potential licensees often prefer a demonstration of the discovery to appreciate the benefits to their business, and the inventor is the best person to describe the details of the invention and its technical advantages.
So How Long Does It Take?
It can take several months to a year to identify a potential licensee, depending on the stage of development of the invention, its commercial attractiveness, and the size of the market. Most Rutgers inventions tend to be early-stage and may require substantial commercialization investment before it is ready to market.
What About Software and Creative Works?
Marketing of innovations that are Software and Creative Works is also done in the same way. If a decision is made to make the software innovation available via Express Licensing, the licensing manager creates a technology webpage for Express Licensing.