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This process helps us to determine the strategic fit for the subject technology within a cross section of products and industries. We then classify and catalog the intellectual asset within its most appropriate application area.
Companies acquire intellectual assets in order to gain or maintain a competitive advantage. An intellectual asset is frequently created without an explicitly defined application in the mind of the researcher or inventor. Patents are filed many times based on the novelty of the development or as a defensive measure to block the competition from profiting on new or future technology paths.
In this phase, the PartnerAlliances team works with the transferor's R&D team as well as with subject domain experts to conduct research and determine possible areas of application across different industries. Out-of-the-box or creative thinking is key to this process as it enhances the discovery of new opportunities.
Once the team has identified a set of promising industries and application areas, these areas are ranked by several factors including growth, technology gap, technology adoption readiness, skills requirements and others. Prioritization is provided as an input to the next step, i.e. to determine markets and partners.
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