Why assign technology to University of Alberta?
Inventors at the University of Alberta own the results of their research. They have the option to pursue commercialization of inventions independently of the University of Alberta (but they must still report the commercialization activity), or to assign ownership of the technology to the University of Alberta for commercialization by TEC Edmonton's TEC Transfer team.
Benefits of Assigning Technology to University of Alberta:
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Allows researchers to maintain their primary focus on research and teaching, leaving the TEC Transfer team to focus on the business aspects of commercialization.
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Enables assistance from TEC Transfer for the commercialization process (our team has a wealth of experience and expertise in dealing with intellectual property protection and prosecution issues, negotiating on third-party business contracts and assistance with investor agreements);
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Access to financial resources, such as initial patenting expenses (these costs can amount to thousands of dollars and last several years between application and issuance);
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Assignment can enhance future protection of a technology (assigned ownership allows the University of Alberta to "claw back" a technology from a licensee or a spin-off company facing bankruptcy so that the technology is not lost to creditors in the liquidation process).
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Business development support is provided by TEC JumpStart in cases where the technology was assigned to the University of Alberta which then granted exclusive licence to create a spin-off company.
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Despite these advantages, TEC Edmonton recognizes that there are cases in which the researcher prefers to retain ownership of the technology and report the invention and commercialization activity to the University of Alberta.
