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Management of IP raises many issues before embarking upon the patent application process and searching for potential licensees. The appropriateness of patent protection and to what extent is important considerations along with ensuring freedom to operate. 70% of R&D in the U.S. infringes IPR of another party (WAG 2004), which can place substantial obstacles in the path of continued the development, let alone eventual commercialisation. The importance of the right of freedom to operate in the university case has been highlighted by high-profile cases such as Madey versus Duke University (Guttag 2003) in the U.S. and has led to much discussion about the legal position of educational institutions.

Historically Welsh Higher Education Institutions (HEIs) have engaged in a limited amount of licensing activity with more focus given to development of spin-out companies. However, there have been instances where inventions have been licensed for significant sums. The most notable example concerns a life science technology relating to fluorescence technology used in genetic research, which was licensed by the University of Wales, College of Medicine for £710,000 (WAG 2004).

While licensing activity has been modest other mechanisms such as consultancy have been growing consistently since the mid 1990’s as shown in [link] .

Consultancy income of Welsh HEIs 1995-2002 (WAG 2004).

Spin-out companies

Furthermore companies located in university incubators have been found to be more productive (Siegel et al. 2003) along with the sense of vibrancy and catalysing effect they have for associated companies. This can assist in long-term economic development supporting the establishment and growth of successful clusters (Tornatzky 2000).

Welsh HEIs have been performing well in terms of creating spin-out companies. During 2001/02, supported by the Wales Spin-out Programme, 22 spin-outs were produced (10% of the UK total) together with a further 64 businesses started by graduates (19% of the UK total). This performance is particularly encouraging considering Wales represents 6% of the UK population.

The rate of spin-out development in Wales stuttered following this period, as it did across the whole of the UK, following changes in capital gains tax rules in 2003. These rules saw academics being liable for immediate taxation at a rate of 40% on the value of their share of equity in a spin-out company. This issue is now being addressed by the Treasury together with professional bodies representing academic commercial activity such as The University Companies Association, UNICO (2004).

Sustainable Innovation System Components

Previously we have explored the concepts of economic development, regional cluster theory and innovation. The concept of sustainable innovation has also been introduced considering the cyclical nature of economies and technologies, and how this impacts upon economic and firm development. Sustainability is also a topic of significant current interest due to the environmental and societal challenges faced across the world such as climate change and aging populations. This has drive governments and other organisations to consider how sustainable development in economic societal and environmental contexts can be effectively combined. The work of Jorna (2006) is a prime example of how this broader consideration of sustainability in innovation can be applied her work dovetails the concepts of Schumpeter’s creative destruction and economic cycles with technology cycles and the central role of knowledge creation and dissemination. Also demonstrated earlier in previous sections is how the ethos of open, collaborative, multidisciplinary and global working is critical in developing and sustaining vibrant knowledge economy clusters, this thinking was recently articulated by Nick Donofrio ( [link] ).

Questions & Answers

Application of nanotechnology in medicine
what is variations in raman spectra for nanomaterials
Jyoti Reply
I only see partial conversation and what's the question here!
Crow Reply
what about nanotechnology for water purification
RAW Reply
please someone correct me if I'm wrong but I think one can use nanoparticles, specially silver nanoparticles for water treatment.
yes that's correct
I think
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
How we are making nano material?
what is a peer
What is meant by 'nano scale'?
What is STMs full form?
scanning tunneling microscope
how nano science is used for hydrophobicity
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
what is differents between GO and RGO?
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
analytical skills graphene is prepared to kill any type viruses .
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
The nanotechnology is as new science, to scale nanometric
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Difference between extinct and extici spicies
Amanpreet Reply
While the American heart association suggests that meditation might be used in conjunction with more traditional treatments as a way to manage hypertension
Beverly Reply
in a comparison of the stages of meiosis to the stage of mitosis, which stages are unique to meiosis and which stages have the same event in botg meiosis and mitosis
Leah Reply
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Source:  OpenStax, A study of how a region can lever participation in a global network to accelerate the development of a sustainable technology cluster. OpenStax CNX. Apr 19, 2012 Download for free at http://cnx.org/content/col11417/1.2
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