1.9 Tech Marketing and Finding, Contacting, Securing Potential Licensees

1.9.1 Tech Marketing: What, Why and How: General Approaches and Strategies

Experienced TTPs know that proactive tech marketing of new IP/inventions is essential to a successful and sustainable Tech Transfer program at any PSRI. Proactive, creative, and persistent tech marketing is key to a successful TTO and Tech Transfer program.

The concept is simple: tech marketing is the process of connecting the IP/invention and a company that has an interest in exploiting that IP/invention. It is done in many ways and as creatively as individual TTPs make it. There are two basic types of tech marketing: passive and active. Passive tech marketing involves providing lists of technologies that can be browsed by interested parties on searchable databases on TTO websites. TTOs must consider how best to list their technologies available for licensing – there are hundreds of examples of PSRI TTO website listings of “Technologies Available for Licensing” and these provide useful models. 

Arguably, active tech marketing is more effective. These methods rely on the proactive work of the TTP to identify, contact, and interact with potentially interested companies. Many TTOs require that to file a patent on any invention that lacks a potential Licensee, an active tech marketing campaign must also be launched. An active tech marketing campaign can take various forms. However, a primary method is: 

1. identifying companies that should be interested in the technology (based on the invention’s inventiveness and judgement of the TTP);
2. making lists of such companies with names of appropriate key contacts;
3. preparing a non-confidential summary and supplementary information about the IP/invention;
4. contacting the company;
5. engaging in dialogue with key personnel in the company;
6. entering into serious license discussions.

1.9.2 The Tech Brief

The Tech Brief is a concise and non-confidential summary of an IP/invention. It is typically one-to-two pages. It is easy to read. It summarizes the highlights of the IP/invention in a narrative that is compelling and interesting and provides just enough technical detail. It is designed to grab the attention of people in potential partner companies. It is a simple but essential component of a tech marketing effort. However, the Tech Brief has an even more important role: the process of writing/creating it by the TTP transforms the TTP’s initial cursory understanding of the IP/invention into a deep understanding and appreciation – making them more capable of managing and facilitating the commercialization Tech Transfer process. 

1.9.3 Passive Marketing

1.9.3.1 The TTO Website with Searchable Tech Listings

Most TTOs provide a searchable listing of their technologies available for licensing on their website. Although it is difficult to say precisely how effective such listings are in actually bringing potential Licensees to the TTO to inquire about that technology, it is typically considered a “must have” for most PSRI TTOs. Based on discussions with TTPs around the world, it seems that more and more companies are relying on such searchable website listings to look for IP technologies to license. Also, having such a listing gives inventors some confidence that their invention/IP is being made available to potential Licensees. Searchable website listings of IP/technologies are of particular importance for international licensing activity. Companies outside the home country of a TTO can easily find the technology and contact the TTO with this kind of facility. Once a TTO has decided upon having a website listing of its IP/technologies, there are many different styles, types, and functionalities to choose from. For example, many TTOs organize their lists by technology type (e.g., human medical, agriculture, IT, etc.). Creative use of links to documents and other information can also be valuable. It’s important to make sure that anyone visiting the TTO technologies site who is interested in a particular technology, can easily find a person to contact, and their contact information (for example, an automatic email message can be sent to the assigned TTP). There are many examples of PSRI TTO technology listings.

1.9.3.2 Others’ Websites to List Your Technologies

There are third parties that offer websites with listings of technologies/IP available for licensing from many different TTOs. Most of these charge a fee of some amount and structure for a TTO to list. The TTO should consider using such services if the cost is reasonable, the provider is reputable, and the site is well managed. The TTO should probably avoid entering contracts in which the website provider is given a percentage of license revenues.

1.9.4 Active Marketing

One of the key distinctions between experienced and inexperienced TTPs is knowing the importance of proactively marketing IP/inventions to signing a License Agreement. Inexperienced TTPs do not understand that achieving successful License Agreements absolutely depends on their taking action to: identify companies that would be potentially interested in the invention/IP, creating compelling information to attract such companies to a licensing discussion, contacting these companies, and entering into a meaningful dialogue and exchange of information. Since inexperienced TTPs do not take active steps to achieve these objectives, their technologies typically lie unlicensed, and unused by commercialization implementers. Experienced TTPs know that these activities are so important to the ultimate success of the Tech Transfer process, the TTO, and the TTP, they build them into the routine of their job responsibilities. The most successful TTPs are constantly planning and executing an active marketing campaign for the IP/inventions in their portfolio. Developing the skills to strategically design and implement tech marketing materials and campaigns is one of the pillars of professional success of the TTP.