The Commercialization Model

Abstract

The purpose of this section is to familiarize the business counselor with various stages of product development and barriers that inventors should be prepared to overcome. The Inventor will be come familiar with "The Commercialization Process Model" developed by Dr. H. Randall Goldsmith and the Mid-Continent Technology Transfer Center. It takes a lot more than a great idea-or even a great product-to be successful at bringing a new idea into today's marketplace. The following explains what is need COMMERCIALIZATION STRATAGIES There are two ways to commercialize a new product: 1) The client produces and sells the product by starting their own venture. 2) The client licenses the product to someone else to produce and sell.