Commercializing Successful Biomedical Technologies: Basic Principles for the Development of Drugs, Diagnostics and Devices

Chapter 3: Intellectual Property, Licensing, and Business Models


Roadmap of a product commercialization plan. Stage 3

The only thing that keeps us alive is brilliance. The only way to protect our brilliance is patents.

Edwin Land, founder of Polaroid

Ideas are to the Information Age what iron ore and other raw materials were to the Industrial Age only you can t put a fence around ideas. The closest thing is a patent.

Thomas Field, Jr.

The patent system added the fuel of interest to the fire of genius.

Abraham Lincoln

Learning Points

  • What are the different types of intellectual property and what is their purpose?

  • What is a patent and how does one interpret a patent?

  • What is patentable material ?

  • What is the process of filing and obtaining a patent ?

  • What are the different models used to manage or make money from patents by licensing?

  • What are the key terms in a licensing or a technology transfer agreement?

  • What is the value of a patent?

  • What is a reasonable royalty rate and what other financial terms are there for licensing my patent?

  • What are the damages I can claim if someone infringes my patent?

  • What are the various business models around commercialization of biomedical technology patents or products?

3.1 Types of Intellectual Property

Intellectual property is the term used to describe a set of commercially valuable rights that result from formally codified inventions, literary or artistic works, or other representations of creative thought, or particular...

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