California Expands Tech Innovation
The transfer of technology (TOT) in California is vital to the growth and success of businesses and manufacturers. Through the process of disseminating technology from its original source to more people and places, it can then be developed or exploited into new products, services, or materials. Technology transfers occur for several reasons including the ability to identify, protect and award recognition. It can also attract new corporate research support and increase revenue through licensing agreements. Originators of new information often share their findings, but will usually require a licensing agreement, a commercialization plan or a legal partnership. Most often, the public will recognize this process due to the release of Original Equipment Manufacturer (OEM) products that have allowed local companies to produce new goods under their own brand while also giving those businesses the opportunity to reorganize their production.