Commercializing Intellectual Property a University-Industry Alliance for New Product Development
An executive summary for managers and executive readers can be found at the end of this article
Commercializing intellectual property: a university-industry alliance for new product development
Cyril M. Logar
Professor of Marketing, West Virginia University, Morgantown, West Virginia, USA
Thomas G. Ponzurick John R. Spears
Professor of Marketing, Department of Marketing, West Virginia University, Morgantown, West Virginia, USA Research Associate, West Virginia University, Morgantown, West Virginia, USA
Karen Russo France
Associate Professor of Marketing, West Virginia University, Morgantown, West Virginia, USA Keywords New product development, Research, Universities, Marketing, Customer requirements Abstract This article outlines a process, whereby public research efforts can be joined with private sector product needs creating a commercialization culture that can help provide opportunities and address the barriers of new product concepts for the marketplace. The issues discussed here were identified through research efforts that explored the opportunity to align academic research with private sector commercialization efforts. The purpose is to identify academic and private sector linkages that may benefit and enhance new product research efforts with the goal of moving faculty-driven product research from inception to marketplace commercialization. The end result is a process by which public sector (institutions of higher education) and private sector organizations can interact to develop new products for the commercial marketplace that will meet the burgeoning product needs of current and future customers.
Development of new products
Introduction The development of new products and the improvement of existing ones may be the lifeblood of many organizations. This is extremely crucial since new product failures are very prevalent as borne out by the fact that over 25,000 products were launched in 1997 and less than 20 percent were still on
Commercializing intellectual property: a university-industry alliance for new product development
Cyril M. Logar
Professor of Marketing, West Virginia University, Morgantown, West Virginia, USA
Thomas G. Ponzurick John R. Spears
Professor of Marketing, Department of Marketing, West Virginia University, Morgantown, West Virginia, USA Research Associate, West Virginia University, Morgantown, West Virginia, USA
Karen Russo France
Associate Professor of Marketing, West Virginia University, Morgantown, West Virginia, USA Keywords New product development, Research, Universities, Marketing, Customer requirements Abstract This article outlines a process, whereby public research efforts can be joined with private sector product needs creating a commercialization culture that can help provide opportunities and address the barriers of new product concepts for the marketplace. The issues discussed here were identified through research efforts that explored the opportunity to align academic research with private sector commercialization efforts. The purpose is to identify academic and private sector linkages that may benefit and enhance new product research efforts with the goal of moving faculty-driven product research from inception to marketplace commercialization. The end result is a process by which public sector (institutions of higher education) and private sector organizations can interact to develop new products for the commercial marketplace that will meet the burgeoning product needs of current and future customers.
Development of new products
Introduction The development of new products and the improvement of existing ones may be the lifeblood of many organizations. This is extremely crucial since new product failures are very prevalent as borne out by the fact that over 25,000 products were launched in 1997 and less than 20 percent were still on