Discuss your invention and how to protect the intellectual property to decide whether a startup company is a suitable option.
PROTECT INTELLECTUAL PROPERTY
Work with OTD to file a patent application on the invention before it comes public. A major asset of a startup company is its intellectual property. After public disclosure, obtaining a patent, particularly outside the United States , may no longer be possible.
|3||SEEK INPUT AND NETWORK|
|Identify a mentor and work with him or her regularly, network with like-minded|
|entrepreneurs, review ideas with potential investors, and evaluate the commercial|
|aspects with potential customers. OTD provides the resources to get started.|
|4||PLAN THE BUSINESS|
|Develop an understanding of the market potential, competition, funding needs,|
|and path to productization and profitability. OTD’s expertise is useful in providing|
|guidance on competitive analysis, market assessment, and business planning.|
|5||NEGOTIATE THE LICENSE OR OPTION AGREEMENT|
|Obtain a license or option agreement from Harvard to demonstrate to potential|
|investors that the company has secured the rights to the technology. OTD leads|
|these negotiations along with an officer of the company.|
6 PURSUE FUNDING
Commercializing technology typically requires external capital. Introduce the company to venture capitalists, angel investors, and, perhaps, friends and family. OTD assists in making connections with entrepreneurs, angel investors, and venture capitalists.