Commercialization
/kəˌmɜːrʃəlaɪˈzeɪʃən/
Definitions
- (n.) The process of transforming an idea, invention, or intellectual property into a marketable product or service for commercial gain.
The company's commercialization of the patented technology significantly increased its revenue.
- (n.) In law, the act of exploiting a legal right, such as a patent or trademark, for financial profit.
Commercialization of the patent requires licensing agreements to protect the inventor's rights.
Related terms
See also
Commentary
In legal drafting, ensure clarity whether commercialization refers to market entry or legal exploitation of rights, as implications for contracts and compliance vary.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.