LICENSING READINESS LEVEL™
Everyone assesses commercial potential, but commercial potential is not the same as license potential. This is important because, in technology transfer, you need to go beyond commercial potential. You need to know the potential for your innovation to be adopted by a company in the current market environment.
License potential, also referred to as "licensability" is an assessment of the likelihood that you will see revenue from your innovation. Just as technology transfer is the intersection of science, business and law - a licensable innovation occurs when the potential for commercialization, protection and market need intersect. It is a determination of whether an innovation fulfills a need and is appealing enough for industry to invest in product development. Another way to look at it is that in order to determine if the innovation is licensable one has to determine the commercial potential, intellectual property position and market opportunity - this includes the stage of development of the innovation.
The dynamics vary from industry to industry, and from company to company. Without understanding these dynamics, it is difficult to license an innovation. Apio helps identify the dynamics of the market and barriers to license so that you can chart a path to licensing success.
Apio-iX uses its novel Licensing Readiness Level™ assessment to determine licenseability of innovations. This involves a two-step process where the innovation is objectively scored on intellectual property, the technology, market, and industry. It is then further classified on a scale from absolute novelty to sustaining innovation. This brings consistency and objectivity to the process of innovation assessment. Therefore, the eight Factors to consider are: