Commercialization: patenting and licensing in wound healing and regenerative biology.

Wound healing and regeneration is an area rich in discovery and progress. Models of resourcing science are changing, thus there are both research funding and commercial incentives for developing intellectual property. This chapter focuses on the initial steps of commercial development of a patentable discovery such as might apply to an invention in this space, and indeed other areas of biomedical science. We cover the basics of patent protection and licensing. First, we address why research results often need to be patented in order to provide an incentive for the financial investment required to move a product through the development and approval process. Second, we discuss the basics of US patent law and address certain pitfalls of premature disclosure of research results. Next, we inform the reader of significant issues relative to ownership of IP in the academic and industrial worlds, in particular the interplay of consulting agreements and employment obligations. Finally an overview of the mechanics of the licensing process is provided.