The marketing and commercialization process at Cedars-Sinai Medical Center relies on both internal and external advisors that help enable technologies the best chance to succeed.
Once an inventor(s) files an Invention Disclosure Form to the Office of Technology Transfer Offices, our team reviews the document for completion and relevance. Once the document is approved, the invention is evaluated by a market assessment firm. The market assessment provides insights on the potential of the technology and allows CSMC to make recommendations on how to proceed. Generally there are several options that we can take
- For early stage technologies we recommend to wait until further data is generated.
- For no market interest or need, we recommend returning it to the inventors.
- When there is market interest we recommend that patentability assessment be conducted by a law firm.
- When market relevance meets patent opportunity we initiate the patenting process to protect the intellectual property.
Once the invention is protected either by a provisional or non-provisional patent application, we initiate the marketing process. Initially we approach companies that work in that specific science field where we have contacts. This process not only help us to have a presence with our network of potential and active licensees, but it also provide us with an opportunity to learn more about the needs and direction of these companies.
If a company shows interest in the invention, we share as much information as possible and even prepare a Confidentiality Agreement to protect the CSMC’s intellectual property. We also perform due diligence on the company to ensure that they are the best partner to bring the technology into the market.
Once the company decides to move forward into licensing discussions, we generally attempt to meet with the interest party, learn about their process and negotiate a term sheet which could be later converted into a license agreement.
This whole process from INDX to license agreement may take from several months (6-8) up to several years, pending on the technology, the market and the parties involved, however, the Technology Transfer Office at Cedars-Sinai Medical Center will respond to your needs and finalize an agreement according to the licensee needs.