Importance Of Technology Commercialization

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Summary
This writing looks into the definition of Technology Commercialization, the importance of commercialization of product and services and the use of technology in product commercialization. The necessary stages where to begin, how organizations or inventor protect their ideas, how to position their innovation for the commercial market, and what to expect from their effort. They’re moving forward depend on how their ideas and innovation has the potentials to succeed in the marketplace.
Technology Commercialisation
The writing, finding determines that important factor that is vital in a huge number of technology commercialization models. West and Farr (1990) Illustrate the positive nature of innovation, the introduction and application
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Technology transfer and commercialization (TTC) are handled through internal and external operations. Technology transfer and commercialization do not evolve naturally and linearly from research and the discovery of scientific solutions. Often, unfavourable economic conditions and inadequate provision of complementary service from problems for their completion, while their execution is a multi-actor and multi-stage process in which chance may also recreate a part. Moreover, Solow’s (1957) highlighted that growth model, have often treated technology as given that is incorporate in products or Service, where technologies that similarity blueprint, machines, or materials are easily imitate and transferred (Lin, 2003). The research that has been conducted, among other, are technology transfer process, appropriateness of technology, agreement and conflict between transfer companies, the success of technology transfer, and the societal and economic benefits of technology transfer for both suppliers and recipient countries (Katz, 1985; Lall,…show more content…
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