Managing knowledge in uncertain times. Proceedings. IFKAD 2021

The transfer of knowledge between universities and businesses has attracted the attention of many stakeholders. This process of knowledge transfer poses several challenges for universities such as the difficulties and barriers to the commercialization of patents. These assets need to be enhanced and communicated to third-parties to increase their impacts outside the university. In order to promote and increase the valorisation of university patents, in recent years new platforms have been activated, as well as the number of dedicated initiatives (e.g. the innovation fairs) has significantly increased. The technology transfer offices (TTOs) manage the patent portfolio of the universities and they face some challenges such as an effective transfer of knowledge to third parties, a proactive commercialization of university patents, and a promotion of these assets aimed at maximizing their impact. TTOs and inventors communicate patent information to third parties through short presentations/pitches and marketing sheets. The characteristics and attributes of patents can act as useful signals to reduce information asymmetries towards third parties. This qualitative research offers an analysis of the main characteristics and attributes of patents that influence investment or acquisition decisions by third parties. Interviews were carried out with several entrepreneurs and investors with specific experience in the field of university patents, and revealed key information on the main characteristics and attributes of the patents that are of prime importance to them. These parameters could help TTOs, inventors and universities to implement their communication strategies and to improve their presentations/pitches or marketing sheets with the categories of characteristics/attributes that emerge from this research. This study could have interesting implications for some stakeholders such as universities, TTOs, inventors, innovation managers, platform managers, policy-makers, governments and public agencies.