The primary function of a Technology Transfer Office (TTO) with respect to collaborative research is to facilitate the transfer of innovation and intellectual property from universities and research institutions to the marketplace. A TTO facilitates the flow of knowledge from faculty and researchers to economic actors, with the aim of converting new knowledge, novel research findings, and scientific discoveries into commercially viable products and services. The TTO typically coordinates a process of technology licensing and transfer agreements, marketing and evaluation of intellectual property, and industry partnering. Furthermore, the TTO can provide support to help researchers assess potential markets, identify target companies, evaluate potential spin-offs and distributors, and negotiate legal agreements and related transfer activities. In addition, the TTO can offer educational opportunities in research commercialization and intellectual property management, as well as mentoring and networking opportunities that enable faculty to develop strong links with industry and enhance their success in technology transfer.
