Bench to Market: Understanding the Language
As the first installment of our Bench to Market series of posts, we provide a glossary of certain terms that an entrepreneur is likely to hear in the course of bringing a venture to market. This glossary assumes that many terms commonly used in legal circles will be new to the entrepreneur. The defined terms in this initial list relate primarily to the choice of legal entities that are available to the entrepreneur for development and operation of a business venture. As the series continues, this list will be expanded to include additional terms discussed in subsequent posts.
From Bench to Market
Many Genomics Law Report readers hope for the opportunity to take a product or process from the research laboratory to the commercial market. “From Bench to Market,” our newest series of posts, will explore the key issues scientist-entrepreneurs will face in turning a research idea into a viable business. Attorneys at Robinson, Bradshaw & Hinson who specialize in the various stages of this process will offer practical background information and pointers. The series will track the development of a new business through each major step, from the decision to pursue commercialization all the way to the pot at the end of the rainbow, a financially successful business.
Some of the issues we will examine go to the core viability of the proposed business. For instance, does the proposed venture have the rights to all of the intellectual property necessary to develop the contemplated product or service? Acquiring the necessary bundle of rights can require would-be entrepreneurs to work at a very early stage with tech transfer offices and other rights holders to obtain the requisite licenses for commercialization.
