Commercialization

Commercializing a New Technology



Commercializing a New Technology

Introduction

The technology is changing day by day and introducing more new concepts and ideas to increase the efficiency and effectiveness of the players in every sports as well as other walk of life, Tennis is one of the most famous and most watched sports in the world. Players from 206 countries compete in different tournaments of tennis worldwide. Since the last decade, tennis, like other sports, also faced great technological upgradation. The technological design and manufacturing of racket and balls, the scientific improvement in the sports nutritional supplements and the use of computer technology are very good example. With the increase in tough competition, players need more technological equipments to improve their performance. Keeping this point in view, the latest invention in the world of tennis is the “Racket Sensor”.

This device is fixed in the racket and it observes the speed of the shot coming from opponent as well as records one's owns force, with which the ball was hit in return. This technology will enable the players to study and judge the force required against specific speed of the ball to keep the ball within the court. This device will also help players save their energy and stamina, which was going in wastage due to wrong judgements of the opponent's level of shots. Racket Sensor will especially help the young players to be more efficient and cautious in their future career.

Methods of Commercialization of Technology

The technological inventions, such as “Racket Sensor” are patented to protect the rights of the inventor and to avoid the possible theft of the invention and its illegal manufacturing. Then products are introduced in the market with a product brand name, which is then registered as a trademark to protect the brand name and the individualistic characteristics to differentiate the product (Agrawal & Henderson, 2002, 44). Another way of technology commercialization, which grants the rights of the invention to the licensee for its manufacturing and distribution.

In this case, both of the approaches can be followed, but before selection, certain advantages and disadvantages are discussed below.

Patents

A patent gives its owner the exclusive right to the claimed invention, recognized by the Industrial Property Office or the patent office of a country or group of countries to which it has submitted a patent application. So, that right is conferred after following the procedure laid down in legislation or regulations relevant patent. The exclusive right of the holder gives the right and opportunity at the legal level to prevent others from making, using, offering for sale, selling or importing the patented invention without permission (IPO, 2012). In return, the owner must disclose the claimed invention, describing in the patent application. The patent application consists of a cover page, a summary and the specification of the patent that includes drawings, description and one or more claims. The claims determine the patentability of the invention and define the exact scope of the claimed invention. The claims define the scope of legal ...