A University-Based Model for Evaluating Inventions

Abstract

There is a need for programmes that provide independent inventors with balanced, data-based evaluations of their early-stage ideas. These inventors do not have access to the evaluation processes used in many companies to assess whether or not an idea warrants further investment of time and resources. In addition, invention promotion services that focus on independent inventors are often costly; and some of these have been accused of fraud. The business school at the University of the Pacific (UOP) launched a pilot invention evaluation service (IES) in autumn 1999. The process used in the IES is based on new product development models used in companies, and addresses basic market, technical and financial potential. The programme benefits not only the community of inventors: because IES staff members are graduate research assistants, it also provides a unique experiential learning opportunity for students. This article details the design of the service and the manner in which it has been implemented at UOP. Data from surveys of the inventors who have been served over the past three years is presented, which indicates that they have found the IES to be very effective in improving their decision making. Other universities may benefit from establishing a similar programme.

Keywords

invention evaluation independent inventors new product development experiential learning

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