Date:November 25, 2009
The resources listed below offer broad suggestions. The best way to maximize your group's time is to make an appointment with April Kessler, the Business Librarian. She can suggest resources more specific to your topic.
The goal of a Quicklook assessment is to get an early indication of commercial interest in an idea, invention, or area of research. The primary benefits of the reports are the potential partners/licensees that can be found. In cases where inventions are not well received by the commercial marketplace, the reports can give early warning signals that the proposed area of research or proposed patent may be a non-starter and further investigation is needed prior to funding either more research or a patent submission.
Typically the inventor is an excellent source for this information because they invented the product because it could not be found on the open market (usually) or the invention is the product of research that had specific goals in mind, e.g. to develop a better battery. It is also important to brainstorm with others in the office because different backgrounds and experiences may point to more uses than the inventor specifies.
If it is difficult to identify how or where the invention could be used, identifying similar products may give some clues to utility of the product. If the identified markets are obscure or the usefulness of the invention is not clear, a database search may indicate new markets or avenues of research.
Because the Quicklook assessment depends on primary research, this step is critical.After the markets have been identified in Step 1, it should be relatively easy to identify who the customers would be in those markets and who manufactures similar products for the market. The best sources are usually companies that manufacture similar products, because they will be more global in their response to the invention. A potential licensee will react to the invention by indicating how many customers may be interested in a product and be more aware if a similar product is already on the market. When potential licensees cannot be identified, potential customers of the product are also good sources of information about the invention. While their responses usually deal more with specific uses in their operations, they sometimes can offer information about competing products or more importantly, a manufacturer that might be interested in the product that was not previously identified.
When contacting the identified manufacturers and/or users of the subject invention, it is important to remember that you are contacting the companies to get their expert opinions on the viability or usefulness of the product. Most people are happy to talk about anything if you treat them as the expert they believe they are. Also, you are calling about something that could potentially help their company, so there is something in it for them. Let them know that their company could be a potential licensee of this product or similar products available from the labs in the federal laboratory system.
When talking to the companies, emphasize the potential benefits of the invention not just the features. It is rarely necessary, and usually impossible, to describe how an invention works, but you must be able to describe why it would be important in the marketplace.
Usually, the best people to talk to are in marketing or R&D. Marketing is good because they have a global view of the market place. R&D is good because they usually have a good idea about similar products or on-going research.
It is always a good idea to reconfirm data that has been collected from companies in primary research. If you get a piece of information that may be useful, try to reconfirm it with the next phone call. Also, when asking about the potential market size, it is always a good idea to offer some scale examples if they are reluctant to make a guess on their own. For example, ask them if the market would be closer to 10,000 units or 100, 000 units. When the choices are so different, they are more likely to say whether the market is closer to one size or the other.
Usually, only 8 to 10 productive phone calls or e-mail conversations are necessary to complete the Quicklook commercialization study. It will not take many conversations with industry experts to find out if the invention is a star or if the product will face an uphill battle in the marketplace.
When writing the report it is important to note all viewpoints on the invention because the full range of responses will give an indication of value of the invention. An invention that is met with universal cheers and interest is typically more valuable than an invention that is met with ambivalence by most and moderate interest by others. Also, if there are any negative comments, they may point out barriers to entry for the invention, potential competition, or issues that the inventor/institution must address prior to market entry.
The entire Quicklook process should only take 20-40 hours. It is not designed to be an in-depth market analysis report that will give a complete market picture to potential licensees. It is an information tool to be used for the targeting of the invention for license or information to be used in a go/no go decision.
To facilitate comparisons between different products, it is necessary to have a common format with common information about each market and technology. Each section needs to answer as many specific questions about the commercial viability of the product and achieve specific goals. Your report should be no more than five single-spaced or ten double-spaced pages, plus exhibits.
| Factor | weight | score ( 1-3) |
| Market Potential | 25% | |
| Market Maturity | 15% | |
| Technology Development | 40% | |
| Competitors/Patents | 20% | |
| TOTAL | 100% |
The numerical ratings that are assigned to the factors (market potential, market maturity, technology development, and competitors/patents) are subjective based on the researchers findings in the marketplace.
A low score would be warranted if the research findings point towards a limited market potential (small market), a market that has very high barriers to entry, or a technology that is unlikely to meet required performance or price points. A high score would be for technologies that have potentially large markets, lower barriers to entry, and/or can easily meet performance and price points.
The more a technology has to break new ground in a marketplace the more difficult or more costly it can be to introduce. Low scores would be for technologies that depend a great deal on complimentary technologies that either don't exist or are in their infancy (the best hydrogen powered car in the world will find a limited market because there is no way for the average person to easily fill up with with hydrogen). More mature markets already have the infrastructure and buying habits in place. Technologies are usually enhancements to existing products (a new smaller, lightweight, portable digital phone would enter a more mature market). Because some new technologies can be a break from past habits and infrastructure, but still have great potential (the first electric light) this rating is given the lowest weight.
In the world of licensing, this factor can make or break a technology. A low state of development would indicate a technology that doesn't have any serious working prototype or is still largely in the theoretical stage. A high ranking would be given to technologies that have a working prototype, perhaps units that have been produced in a commercializable state. If licensing is the primary goal for a technology, this factor is very critical. If a licensee has to do a great deal of further development work and invest a great deal of money just getting the product ready for market, they will most likely not be willing to pay a great deal for the license. If on the other hand a company is interested in manufacturing and launching the product internally, the weight given to technology development could be more evenly distributed with market potential.
This rating is an indication of the level of competition that a product will face. Low scores would be given if there are dominant companies with better or very well accepted products in the same market the technology addresses it will be more difficult to sustain a competitive advantage over time. If there are a great many recent patents in the same technology area it is an indication that there is a great deal of activity and also a warning signal that the technology may not be sustainable over time. The patent strength is also a factor. The stronger the better. Higher scores would be in market areas that do not have dominant competitors and offer a chance for a sustained technology advantage.