Valorisation, according to Law 14/2011, of 1 June, on Science, Technology and Innovation, is understood as the valorisation of knowledge obtained through the research process and covers all processes that bring the results of publicly funded research closer to all sectors and social agents, and generate social value through various manifestations and types of transfer. 

Thus, valorisation consists of adding value to research results that can be used economically or socially, with the aim of making them of interest to companies or other types of entities and, consequently, leading them to take advantage or acquire them.

Therefore, the process of valorisation develops in five main stages from the point of view of universities:

1.    Identification of results: formal communication from research staff on the results obtained, if they consider that they can be exploited. 
2.    Evaluation of the innovation and transfer potential of the result.
3.    Protection, if applicable, of intellectual and industrial property rights.
4.    Commercialisation. This is the promotional action that allows the research results to reach and make them known to people and organisations that may be interested in their economic or social exploitation.
5.    Proof of concept. Additional tests, demonstrations or studies that technically validate the interest of the results for economic exploitation under real, non-laboratory conditions.

The research results generated by the research activity of public research centres, such as universities, can be transferred through one of the following three channels: 

1) the licence to existing companies, 
2) the carrying out of university-company collaborative projects to develop or industrially validate a research result developed at the university, in which a licensing option right is contemplated in the event that the result has been successfully validated, and 
3) the creation of a new company whose corporate purpose is the commercial exploitation of this result (a university spin-off or a knowledge-based company).

In general, the decision to choose one or the other transfer channel will depend on a number of criteria, such as: 

1) the innovation potential of the research result
2) the market potential (business idea, existence of market niche, possible competitors, competitive advantages, companies interested in its transfer) 
3) capacity and involvement of the research team.

After valorisation comes knowledge or technology transfer, whereby rights to knowledge are transferred by contract with varying degrees of limitation and exclusivity. Transfer is technically a legal act, but it involves a relationship and exchange of technical information and also generates an economic relationship in the context of a given market.

Promotion and commercial action in general are part of the process of knowledge valorisation and transfer. The product/service in question is undoubtedly unique, because of its intangibility and early stage of development, which will require changes to classical marketing concepts and actions. The new nature of some research-derived products will generate new needs and new markets. While the public and social character of some of these products or services will have an impact on the consideration of "profit" and "value" that is usually considered in marketing.

This phase of the valorisation process focuses on the preparation of technology offer files, research and contact with companies, mailing or attendance at sectoral fairs, dissemination of technology offers on the web and other media.

These files are available on the webpage: https://www.uv.es/oct, which includes the scientific and technological offer of the UV, based on the research lines and capacities of the research groups recognised by the Universitat de València in accordance with the Regulation of Research Structures of the UV, approved by ACGUV 48/2013.

In addition to the active search for and contact with potential licensee companies interested in exploiting the research results, Scientific and Technological Offer (STO) files are prepared for their dissemination, either on our own internet portals or on technological Market Places. There are numerous Market Places where, in a standard format, these offers are displayed and potential interested parties are sought.

The STO file is the presentation card of the technologies developed by the groups and their research capacities. In simple and straightforward language, it highlights, among other things, the possible solutions to business needs, the use and advantages offered by these technologies. The STO of a patent-protected result is a document that uses business language highlighting the competitive advantages offered by this technology for potential licensee companies, and always displaying non-confidential information.

Licensing contracts

The research results generated by the research activity of public research centres, such as universities, can be transferred through different channels, one of which is licences to third parties.

A licensing contract is a contract by virtue of which the holder of an industrial or intellectual property right (licensor), while retaining ownership, authorises a third party (licensee) to use or exploit that right under the conditions set out in the contract itself, i.e. it allows the licensee to exercise certain powers of exploitation. Thus, the licensing party, which is and remains the owner of the result, grants an exploitation right to an external company or entity (licensee), but always retains ownership, like the rental of an asset.

Different licensing strategies can be devised. The licence may be unlimited, or limited to a particular territory, a particular use or application, or to all, and may be granted on an exclusive or non-exclusive basis.

Material Transfer Agreements

A Material Transfer Agreement (MTA) is a contract that governs the transfer of research material between two organisations (provider and recipient), both nationally and internationally, with the aim of agreeing the terms of the exchange.

The most frequently transferred materials are biological materials (such as reagents, cell lines, plasmids, vectors, etc.), but MTAs can be used for other types of materials such as chemical compounds and even for some types of software.

From the point of view of the provider, i.e. the institution making the material available for further research, it is crucial to clarify:

•    What use the recipient will make of this material (in some cases, if the origin of the material is human, the provider has legal responsibility for the ethical and safe use of this material). 
•    What restrictions are placed on the disclosure of results, to protect the research itself.
•    Who holds the ownership of the results obtained from this transfer (derivatives) and how the possible commercial value will be treated. Hence the importance of signing an MTA between both parties (the recipient and the provider).

In case material is received from another organisation for use in research, and this material is accompanied by an MTA, it should be noted that there are certain critical aspects that may limit the work. Thus, the following terms should be carefully reviewed:

•    Authorisation and duration of use.
•    Publication rights.
•    Confidentiality.
•    Right to make further distributions of the material, i.e. whether it is possible to leave the material to other collaborating research staff, etc.
•    And everything concerning the sections that affect the ownership and exploitation of the future results of the research itself.

Non-disclosure Agreements (NDA)

A Non-disclosure agreement (NDA) is a contract that is made for the purpose of one or more parties exchanging confidential information in a secure manner, guaranteeing that such information will be kept secret and confidential between the parties. It sets out the responsibilities and obligations of all parties to ensure that shared information is not disclosed to or used by the other party without permission or consent.