Value Proposition

Value Proposition – Assess each idea to identify what protection is available/ needed, and understand the inventors/Creator's vision and market demand.

Evaluation - The IP and Commercialisation team will review the IDF and follow up with the inventor to understand the stage of development, strengths and type of protection possible, continued research plans and publication timelines. Depending on the stage of the invention/ idea it may need further work is needed before becoming licensable or protectable e.g. looking for collaboration partners rather than a licensee.

Initial Market Appraisal - This is conducted with the Inventor to understand the potential markets and estimate the commercial potential for the invention. This stage will be used to identify if the inventor/ university has appropriate industry contacts. Due to the early and complex nature of university research, returns are likely to be long-term and difficult to define. However, we aim to identify if there is a current or a potential market or what the overall impact potential may be before outlining and protection strategy.

There are a number of programmes available to support market and idea validation including ICURe, ARC Accelerator, and Cyber ASAP.

IP Protection

Protection - IP team and professional agents to review the novelty of the IP. Potential mechanisms for protection will be explored

• Protection strategy – From reviewing the IDF and market evaluation findings, if formal IP registration is considered the most appropriate mechanism for providing protection, the type of protection will be identified (Please see types of IPR). Only inventions where a potential market has been identified and there is likely to be commercial value will be patented. If non-formal protection (Copyright, Know-how, non-registered design) is the most effective route to impact, IP and Commercialisation Team will support with NDA’s, Copyright notices, CC Licences or OSS licences where appropriate. (Non-formal protected IP will move into the commercialisation phase)
• Filing / Other Protection – Where registered protection is deemed to be the preferred option and the Patent Attorney confirms that the invention fits the criteria of protection a Patent Attorney will be instructed to work with the Inventor to either; draft the Patent application, obtain drawings for Design Right, identify the TM classification. *Patent applications can normally be drafted and submitted in 5-10 working days, assuming all necessary information to proceed has been made available.
• Continuous Review Process – If IP has been registered through a Patent, Registered Design or Trademark the prosecution and protection will be reviewed regularly to evaluate the strength of protection (e.g. is the prior art overly narrowing the Patent) and review the progress on impact and commercialisation opportunities. At key milestones, the IP and commercialisation team will liaise with the inventor to confirm if the protection should continue, be lapsed or be reduced (e.g. reducing territories). (See patent timeline for Key milestones)

Commercialisation/Exploitation

Market Evaluation – Create technology marketing flyers or other marketing materials. Identify potential collaborators/ licences and send marketing information. Review feedback and gauge interest.

Commercialisation/ Exploitation Strategy – Confirm the exploitation strategy e.g. Commercial/ non- commercial, Licencing, further collaboration/ development with an industry partner or spin-out creation. Understand the market demands for each option.

Initial Term Sheet Draft/ Business Plan (Spin-out opportunity) – Once the licensee/ assignee has been identified an initial term sheet will be drafted outlining key terms that the University would want from a licence or assignment. Start of the external negotiation. Or Draft a business plan for a spin-out

Draft Agreement or Create Spin Out – Full licence/ assignment agreement will be drafted based on the Term Sheet. Where appropriate Spin out will be formed on the basis of the business plan, for this shares will be distributed, external advisors will be approached and spin-out will be supported through Lancaster Business and Partnerships support.

Impact

• Building ongoing relationships – Continued relationship with collaborator/ licensee and/ or spin out company supporting other KE activity such as Consultancy, KTP, Funded research project, Incubation space etc..
• Monitor ROI and Impact – Request reports on exploitation and income. Invoice for commercial share. Request KPI data e.g. FTE, Investment, research income etc. Share revenue with Inventors (in accordance with IP policy)
• Report to REF and KEF – Included data on annual returns and reports.