LINK works closely with Virginia Tech Intellectual Properties, which manages the intellectual property assets of Virginia Tech.
Scientific insights and academic breakthroughs advance the state of the field and contribute to the scientific community when such research is published or presented at a scientific meeting. However, without a company willing to invest in bringing the invention to the marketplace, many benefits of these advances can be left unrealized.
Virginia Tech Intellectual Properties, (VTIP), a 501(c)(3) affiliated corporation of the Virginia Tech Foundation, supports all aspects of intellectual property management and administration for Virginia Tech, in close partnership with LINK and Sponsored Programs.
Together, we help breakthroughs break through by creating partnerships to turn scientific progress into tangible products, businesses, and service models.
As envisioned by the landmark Bayh-Dole Act, we actively pursue commercialization opportunities while returning income to Virginia Tech inventors and to the university to support further research.
Externally, LINK forges deep connections with industry partners and stays abreast of market and opportunity areas. We receive invention disclosure forms from Virginia Tech faculty, staff, and graduate students and evaluate discoveries for possible applications and value. When LINK finds the invention to be novel and of possible value to the market, we seek to protect the intellectual property in partnership with VTIP.
To support transition, we identify prospective licensees from large and medium enterprises as well as startup companies. When the inventions are successfully licensed, compensation collected by VTIP provides funding to the inventors’ departments and schools as well as to the inventors themselves.
Although patentable inventions constitute the majority of our licensing activities, we also handle copyright (software) and tangible research property.