Commercializing Your Work
Every day, faculty, students and staff scientists at McMaster University, Hamilton Health Sciences and St. Joseph’s Healthcare Hamilton conduct research which lead to discoveries that may be of interest and benefit to not only the academic community, but to companies as well as the public in general. McMaster’s Industry Liaison Office (MILO) works with these researchers to bring the value of this new intellectual property to the widest possible audience through commercialization of these discoveries.
The industrial liaison managers, officers, and interns at MILO manage the protection and licensing of intellectual property (IP) on behalf of the researchers employed at these institutions. Some specific activities of MILO include:
- Educating and advising faculty, students and research scientists on matters related to patents, copyrights, and trade-marks.
- Assisting researchers with the preparation of invention disclosures.
- Technology assessment and applying for appropriate patent, copyright, or trade-mark protection.
- Assisting researchers with the preparation of applications for commercialization grants.
- Assistance in start-up company creation based on university or hospital technology.
- Marketing inventions for licensing to companies.
- Negotiation and management of confidentiality agreements, Inter-institutional Agreements, and license agreements.
- Collection of licensing royalties and distribution with creators.
Benefits of working with MILO
- Practical application of your research in developing products fosters the widest possible recognition of your research efforts.
- Collaboration with industrial partners may also result in financial sponsorship of additional research.
- Collaboration with industrial partners may financially support your students and provide them with invaluable experience, and potentially future career paths.
- You receive a share of the monetary compensation in the form of license fees or revenue payments in return for the transfer of commercial rights to an invention. (See McMaster’s Joint Intellectual Property Policy: Distribution of Revenue.)
- Revenues from licensing can be a source of further funding for laboratories and departments to which you are affiliated