Abstract â€“ In this article, we address the issues that are involved when developing a strategy for commercializing a discovery that is novel, useful, and non-obvious to someone skilled in the art.Â Patent(s) may be used as one means of providing a competitive advantage, and in addition this method is quite common as a means to monetize the intellectual asset.Â Alternatively, a more â€œopen-sourceâ€ method may be employed as is more typical in dealing with software products or services â€“ thereby opening up the field to collaboration and widespread use.Â However, other means must then be developed to monetize the asset whether it involves a â€œhardwareâ€ component, software, or both. We argue that to answer these questions, one needs to be very strategic in framing the business model that would be most successful in commercializing the particular discovery keeping in mind that wide dissemination of the innovation is the objective. We focus on issues prevalent for innovation in biopharma, medtech, and medical IT, where high risk, long life cycle, capital-intensive investments are required for commercial introduction.
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