What term refers to the commercialization of university-originated intellectual property?

The term that refers to the commercialization of university-originated intellectual property is known as "Tech Transfer." This process involves transferring the knowledge, innovations, and technologies developed in a university environment to the marketplace, allowing them to be commercialized and utilized by businesses or other entities. Tech Transfer offices in universities play a crucial role by identifying innovative research, protecting it through patents, and then facilitating partnerships or licensing agreements with industry partners to bring these innovations to commercial use. This not only benefits the university by generating revenue but also fosters economic development by leveraging academic research for practical applications in the market.