Industrial partner
| Industrial partner |
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An industrial partner is an individual, company, or organization that works with a research project to provide expertise and resources. Industrial partners typically have a vested interest in the outcomes of the project, as it can directly benefit their business. Industrial partnerships can vary greatly, but some of the more common benefits for an industrial partner include:
- Access to research and development resources: Industrial partners benefit from access to research and development resources that can help to further their own research and development.
- Access to new technology and services: Industrial partners can gain access to new technologies and services that can help to improve their business.
- Access to talent: Industrial partners can benefit from access to talented individuals or teams that can provide valuable insights and help to develop new products or services.
- Collaboration: Industrial partners benefit from the opportunity to collaborate with other organizations on projects that can result in mutual benefit.
Industrial partner means a kind of a business association that involves one or more associates offering their expertise and competencies to a company as an investment to an enterprise instead of money[1].
Industrial partnerships can be extremely beneficial for both parties, as it allows them to gain access to resources that can help to further their business goals. However, it is important to ensure that both parties are able to benefit from the partnership, and that any agreement is fair and equitable.
Industrial partnership examples
Google is a well-known example of an industrial partner. Google has partnered with numerous research projects, such as the Google Brain project and Google Brain X, which focus on the development of artificial intelligence (AI) and machine learning algorithms. Google also works with universities to provide access to its resources and technology. Through these partnerships, Google has been able to access a wealth of research and development resources, access to new technology and services, and access to talented individuals or teams that can help to further its own research and development. Google has also been able to collaborate with other organizations on projects that can result in mutual benefit.
An example of an industrial partner could be a non-commercial organization, such as a university or an industrial organization such as a pharmaceutical company[2].
The role of a company is such an arrangement is to supply a specified percentage of the research cost. Both a university and a commercial company share their knowledge regarding to the subject of the research. A university includes the expertise and specialty knowledge provided by the company into its research, while the company incorporates to their work the data received from the university[3].
For example, a pharmaceutical company may decide to join an industrial partnership with a university by providing funds towards research on some medication. In return the university will share the research results with the company[4].
When do we need an Industrial partner
Industrial partners can be beneficial in a variety of scenarios, such as when:
- A research project requires access to specialized technology or expertise that an industrial partner can provide.
- A research project requires a large amount of funding that an industrial partner can provide.
- A research project requires access to a larger pool of potential customers or target audience that an industrial partner can provide.
- A research project requires access to a larger pool of research data or resources that an industrial partner can provide.
In any of these scenarios, an industrial partner can provide valuable resources and expertise that can help to further the goals of the research project. It is important to ensure that any agreement is fair and equitable, and that both parties will benefit from the partnership.
Types of Industrial partners
Industrial partners can include a variety of different types of organizations, including:
- Companies: Companies can be industrial partners in a research project, providing resources and expertise in exchange for access to the project's findings.
- Academic institutions: Academic institutions can provide resources and expertise to a research project in exchange for access to the project's findings.
- Government organizations: Government organizations can provide resources and expertise to a research project in exchange for access to the project's findings.
- Non-profit organizations: Non-profit organizations can provide resources and expertise to a research project in exchange for access to the project's findings.
There are a variety of different types of industrial partners, each providing different resources and expertise to a research project. It is important to carefully consider the needs of both parties, and ensure that any agreement is beneficial to both parties.
Intellectual property ownership
Usually the ownership of the intellectual property of research results obtained by means of public funds is plainly determined by applicable policies. We are dealing with another situation when a university collaborates with a company and the research conducted in a university is sponsored by a company[5].
Intellectual property ownership in sponsored research
There is no one, international approach to such cases and worldwide countries and institutions developed their own ways to deal with such situations. There are cases when it's a university that owns the inventions or results of the research regardless of the level of contribution made by the industrial partner. Some universities decide to leave this matter to be specified in individual contract negotiations directly with the industrial partner or agree on attributive ownership on the basis of the level of contributions made by each side. The issue of intellectual property ownership goes conjointly with decisions on whether a commercial partner would[6]:
- obtain an exclusive or non-exclusive license to commercialize the invention
- have to pay royalties
- be allowed to license the technology to others
Advantages of Industrial partner
Industrial partners can benefit from a number of advantages, including:
- Reduced costs: Industrial partners can benefit from reduced costs, as they are able to access resources or services at a lower cost than if they were to develop them on their own.
- Improved efficiency: Industrial partners can benefit from improved efficiency, as they are able to access resources or services that are already developed and tested, rather than having to develop them on their own.
- Access to new markets: Industrial partners can benefit from access to markets that they may not have had access to before, as well as potential customers for their products or services.
- Shared risk: Industrial partners can benefit from shared risk, as they are able to take advantage of the expertise and resources of another organization to help mitigate risk.
Limitations of Industrial partner
Industrial partnerships can be highly beneficial, but there are some potential limitations to consider. Some of these include:
- Lack of control: Industrial partners can lack control over the project, as they are not the primary decision-makers or developers.
- Confidentiality: Industrial partners may need to keep certain information confidential to protect their interests.
- Cost: Industrial partners may have to bear the cost of the project, which can be costly.
- Time: Industrial partners may need to allocate more time than expected to the project, which can impact other commitments.
- Joint ventures: Industrial partners can collaborate on joint ventures, which are agreements between two or more organizations to join forces and use their collective skills, resources, and expertise to develop a new product or service.
- Licensing agreements: Industrial partners can also enter into licensing agreements, in which one party grants the other the right to use their intellectual property for a set period of time.
- Consulting services: Industrial partners can also provide consulting services to other organizations, which can help to provide valuable insights and advice on a wide range of topics.
Industrial partnerships offer a wide range of benefits for both parties, as they can access resources and expertise that they may not otherwise have access to. It is important to carefully consider all aspects of the partnership before entering into an agreement, to ensure that all parties are able to benefit.
Footnotes
References
- Aplin T. F., Davis J., (2017), Intellectual Property Law: Text, Cases, and Materials, Oxford University Press
- Batt R., Kahn L. M., (2014), Industrial and Labor Relations Review, Cornell University University Press
- Blackburn R., (2007), Intellectual Property and Innovation Management in Small Firms, Routledge, London
- De Werra J., (2013), Research Handbook on Intellectual Property Licensing, Edward Elgar Pub
- Frias S., Fajardo C. L., (2007), Elementary Accounting Partnership and Corporation, Katha Publishing
- Kaplin W. A., Lee B. A., Hutchens N. H., Rooksby J. H., (2019), The Law of Higher Education, Wiley
- Kruss, G., (2006), Working Partnerships in Higher Education, Industry and Innovation: Creating Knowlegde Networks, HSRC Press
- Nezu R., (2007), Technology Transfer, Intellectual Property and Effective University-industry partnerships, World Intellectual Property Organization
- Ríos J., Bernard A., Bouras A., (2017), Product Lifecycle Management and the Industry of the Future, Springer, Seville
- Yu., H., (2016), Achieving Proof of Concept in Drug Discovery and Development, Edward Elgar Pub
Author: Andżelika Stefańska
