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Commercialization

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Definition Edit

Commercialization is the

process of developing marketable products or services and producing and delivering products or services for sale (whether by the originating party or by others) to Government or commercial markets.[1]
the attempt to profit from innovation through the sale or use of new products, processes, and services.[2]

Overview Edit

"The term is usually used with regard to a specific technology (e.g., 'commercializing high-temperature superconductivity') to denote the process of incorporating the technology into a particular product, process, or service to be offered in the marketplace The term commercialization therefore emphasizes such activities as product/process development, manufacturing, and marketing, as well as the research that supports them, More than invention or innovation, commercialization is driven by firms’ expectations that they can gain a competitive advantage in the marketplace for a particular product, process, or service."[3]

References Edit

  1. Small Business Innovation Research Program Policy Directive, 67 Fed. Reg. 60,072, 60,083 (Sept. 24, 2002).
  2. Innovation and Commercialization of Emerging Technologies, at 2.
  3. Id.

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