ABSTRACT
This chapter focuses on the process of identifying a promising invention, usually in the academic setting, and taking this invention through the technology transfer process until it is licensed out to a biopharma company for eventual testing, approval, and commercialization. Intellectual property (IP) has immense importance for healthcare biotechnology companies. Biolicensing describes the practice of biopharmaceutical companies to exchange licenses for biotechnological inventions, where the licensor receives an outright fee, or an initial down payment plus a proportion of future profits from the invention, called a royalty. The issue of biolicensing takes the primary stage global or geographically limited product commercialization rights across the world. The chapter presents several important aspects of the biolicensing process. Looking at biolicensing advantages with the eyes of a licensee the commercialization costs are limited if an IP asset is acquired at a progressed state of development.
