Commercializing Intellectual Property Rights Owned by Universities of Sri Lanka

Abstract

In the context of modern business and innovation theories, the management of Intellectual Property Rights (Referred to as “IPO”) can be considered of utmost importance. Furthermore, it can be argued that the commercialization of these rights is a significant step among the mechanisms employed in the management of IPR. Commercialization can be defined as the process of bringing intellectual property to the market with the aim of generating future profits and fostering business growth.1 Sri Lankan universities are rich in intellectual properties; therefore, it is essential to transform these assets into business opportunities to develop the country’s economy. This study explores the significance of commercializing IPR owned by universities in Sri Lanka, with a focus on the role it plays in the nation’s economic progress.