Applying the 4 P’s to get to “The Science of the Deal”: Tips on Platform

As I noted in a previous post, STS’s proven Deal-making 4 P’s can position your Technology Transfer Office (TTO) to more consistently and predictably execute licensing agreements for your institution. The Deal-making 4 P’s are:

1. Planning
2. People
3. Process
4. Platform

Let’s take a closer look at Platform. Your TTO can greatly improve efficiency and effectiveness by leveraging modern, low-cost, readily available technology solutions such as IP asset management database applications, calendaring and scheduling, instant messaging, websites, e-mail marketing, Web conferencing, blogs, wikis, microblogging, and other social media tools. It is important that the tools you deploy are intuitive and not overly complex, helping rather than hindering your staff in performing their jobs effectively. Your platform of technology solutions should also be as synergistic as possible to maximize the productivity of your TTO associates.

Regularly evaluate the return on investment (ROI) your organization is receiving from your technology solutions. Solutions should be evaluated in terms of the delivery of positive results (based on both objective and subjective criteria), as well as an examination of whether they are streamlining or impeding your key processes. Several questions to contemplate in this area include:

• Has your office invested in technology solutions that support and encourage communication, collaboration, and teamwork throughout your office and across your institution?
• Do your tools facilitate workflow and project management? Do you know where each project currently stands and how much time has been invested in it?
• Do you have easy and intuitive access to your key databases, or have they become a “black hole” for your critical information? Can you retrieve the patent or marketing status in real time?

How does your organization go about rating the overall effectiveness of your chosen technology solutions?