WORLDiscoveries® is the Business Development arm of London’s extensive research network and the bridge between local invention and global industry.
The Report of Invention
The first step in the commercialization process is reporting your invention in confidence to WORLDiscoveries® through the "The Report of Invention" (ROI) form. This form gathers important data that enables our team to evaluate the commercial potential of your work. If you have any questions about the ROI please contact the Business Development Manager (BDM) serving your research area.
Commercial potential can be diminished if public disclosure occurs before patent protection is secured. This is why WORLDiscoveries® encourages you to submit an ROI as early as you possibly can. You can find our Report of Invention under the "Disclose an Invention" link by clicking here.
Public disclosure may be in the form of a manuscript, an abstract, a poster, a public lecture, a thesis, website information, e-mail correspondence, etc. For further advice on protecting your intellectual property, the Canadian University Intellectual Property Group has composed "A Guide to Protecting Intellectual Property".
Once an invention is disclosed to WORLDiscoveries®, our team quickly assesses the strength of the market opportunity and considers a strategy for intellectual property protection. During this time, the BDM assigned to your file may be in touch with you to request further information.
As a result of this evaluation, WORLDiscoveries® will either:
- Accept the invention for protection and commercialization;
- Return the invention to the inventor for further R&D;
- or Decline the invention due to limited market potential or other reasons.
Once the assessment is complete, WORLDiscoveries® will then issue a letter informing the inventor of the conclusions. Inventors should keep in mind that this decision is a business decision and not an assessment of the academic merit of the invention.
Assignment and Sharing Agreements
If your invention has been identified as an excellent candidate for commercialization, you will be invited to sign a legal document that transfers ownership of the intellectual property to WORLDiscoveries® or to the WORLDiscoveries® member institution (University of Western Ontario, Lawson Health Research Institute, etc.). This "Assignment Agreement" enables WORLDiscoveries® to legally represent the invention, invest in statutory protection (typically patent protection), invest in prototype development, or conduct other commercialization activities.
The "Sharing Agreement" is a legal document that sets the terms of the dispersal of any funds generated in the commercialization process. Some factors that may come into consideration include: the inventor's employment contract or collective agreement, the contributions of multiple inventors (where some inventors may have contributed more than others), the wishes of the lead inventor (to share profits with their faculty, for instance), and the proposed method of commercialization (i.e. spin-off vs. licensing). If you have any questions about assignments or sharing agreements please contact any member of our team.
Next, WORLDiscoveries® will work with you to introduce your invention to prospective industry partners. In addition to valuable industry connections, we also offer intellectual property protection (patents, copyright, trade marks, domain registration, etc.), in-depth market analysis, business and legal documents, marketing, among many other ad hoc services as the need arises. If appropriate, your invention may be considered for a new company spin-off. Whatever the method, the objective remains the same: WORLDiscoveries® works to secure a commercial partnership that is biased toward the researcher and is beneficial to all parties.
We invite you to read about our Success Stories to get a greater feel for what WORLDiscoveries® can do for you. You may also wish to browse our current portfolio of your colleagues inventions, and through our list of spin-off companies.