Step 4: Marketing
When K-State has determined that your innovation has commercial potential, our team will work with you to establish the best commercialization strategy. Studies have shown that a large percentage of all licenses granting rights to academic innovations are executed with a company known by one or more of the inventors; therefore, your contacts can be extremely useful. It can take months or even years to find the right licensee for your innovation, but the benefits are well worth the investment.
The K-State team will also prepare marketing materials and post information about the invention on the AUTM Innovation Marketplace (AIM). As companies express interest in learning more about the invention, K-State will respond to requests and provide additional information. Some companies may want to speak with you as well; our team encourages you to do so and will attempt to minimize the impact on your schedule. In addition to providing information about your research, these interactions also further expose industry to K-State’s research expertise and may lead to future sponsored research opportunities.
After a potential licensee has expressed interest in your innovation, we will put in place the appropriate non-disclosure agreements and begin licensing negotiations.