Definition[]
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[]
"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[]
- ↑ Small Business Innovation Research Program Policy Directive, 67 Fed. Reg. 60,072, 60,083 (Sept. 24, 2002).
- ↑ Innovation and Commercialization of Emerging Technologies, at 2.
- ↑ Id.