The Office of Research Commercialization (ORC) helps move research discoveries from the university laboratory to the marketplace. It is required that you contact Amy Cook email@example.com in the Office of Research Services before you communicate with ORC.
ORC services include:
- Identifying commercially viable inventions
- Providing technology assessments
- Protecting intellectual property with patents and copyrights
- Leveraging marketing and industry connections to translate research
- Providing licensing and legal services
When you believe you have invented a useful technology, you should disclose your work to the ORC through the disclosure portal.
Ideally, disclosure should occur before the work is published or any other public disclosure of the work has been made. Failure to disclose the technology prior to publishing or public presentations can limit the patent rights for the technology. When an invention disclosure is filed with the ORC, please make sure to inform the office of any public disclosures that have already been made for your invention, or any that are planned.
Once an invention is disclosed, the ORC will schedule a meeting with the inventor to review the disclosure and will create a written technology assessment that reviews the patentability and commercial potential of the invention. This assessment will be shared and discussed with you. If the assessment is positive, the ORC will initiate intellectual property protection for the technology and develop an appropriate commercialization strategy. The ORC will forward copies of all patent applications drafted to the researcher for review to ensure that all applications are complete and accurate.
Depending on the type of technology and its stage of development, ORC may market the technology to existing companies and / or list the technologies on various websites to identify potential license partners. The office may also work with the inventor and local entrepreneurs in efforts to create a start-up company, especially where the technology is disruptive to the industry and well positioned for the creation of a new business venture. Either scenario will result in a license agreement between the ORC and a business entity.
The license agreement will include terms and conditions for the use of the technology, commercial development milestones, and define the compensation that will be paid to the university. The compensation will be divided into license fees, legal reimbursement, royalty payments on net sales and possibly equity in the business partner's company. Inventors can assist the ORC in the licensing process by letting the ORC know about new technology enhancements, upcoming publications or public presentations made to industry, and any questions about or interest in the new technology that may be received from industry contacts.
After a license agreement is in place, ORC monitors the licensee to ensure full compliance with contract terms and to support their success in the marketplace. The office also receives all license payments and distributes net revenue generated from the license agreement in accord with Texas Tech Operating Policy 74.04. Inventors receive 40% of all net revenue generated from license compensation received from an invention.