The practice of technology transfer can greatly benefit an organization. What is technology transfer It is the sharing of technology between two or more organizations. Usually, one organisation has developed a new technology and licenses it to the other organization, whose goal is to commercialize that technology. For instance, a university who has developed a new technology may license that technology to businesses so that the businesses can develop the new technology into a product, process, application, or service.

Who are the organizations who are involved in technology transfer Universities and other primary research organisations regularly license their technologies to businesses. Also, businesses involved in different fields may benefit from this sharing.