IP Evaluation and Technology Transfer

Technology has paved the way for tremendous growth. With the invention of Industry 4.0, technology has no bounds. This boon of technological advancement seems boundless hence diverse to manage. Academic institutions are the hub of technological development. These institutes rigorously work towards bringing intellectual property (IP) and inventions that would contribute to society's development. Academic Institute being the source of technology birth, needs to be prioritized, concerning challenges faced in the management of technology. Various processes like Intellectual property due diligence, IP Audit, and IP valuation affect the technology and its impact on the economic, social, political, and managerial and technical aspects. Academic institutes which have efficient IP management system produce excellent results and technology transfer is on the higher threshold. In this paper, the process of IP management at an academic institute level is demonstrated by applying the IP audit model. Further various parameters would be mentioned for IP evaluation, which would be intrinsic for evaluating technology and facilitating technology transfer. This study focuses on technology management at an academic institute level, one of the milestones of research and development concerning technology.