Global-Spin News

The Difficulties of Academic Spin-offs with Intellectual Property Rights

The Difficulties of Academic Spin-offs with Intellectual Property Rights
Friday, 22 March 2019

University research labs around the world are continuously looking at different questions, trying to discover a potential answer and, when a solution is reached, this answer often is an innovative new outcome that could be beneficial to society as a whole. However, many academic scientists, and researchers in general, do not have all of the necessary competencies when it comes to turning breakthroughs into commercial results. One of the main barriers is creating a law around intellectual property (IP) rights such as in patent development. [1]

Protection of intellectual property is essential for creating a commercial endeavour because it provides the designer of the product the legal rights to their invention/formula/etc. and the ability to take legal action against competitors who use it without permission. Without the correct documentation, anyone can take the acquired knowledge and create their own version of the same product. Yet, despite their importance for commercial success, patents are not always easy to figure out—they rarely follow a linear path—and they can make it difficult for researchers to take their solutions to market. [1]

In this article found on the online magazine PhysicsWorld, we can see how three different science-based companies in the UK are using different integration techniques to join academics and business. These best practices are a sign that, while it is difficult, the ability to merge research solutions with commercialised ones is possible.