Which term refers to the process of licensing technology for use by others?

The correct term for the process of licensing technology for use by others is "Technology Transfer." This concept involves transferring the rights, knowledge, and skills related to a technological innovation from one entity, such as an institution or company, to another, typically for commercial purposes. Technology transfer is essential in fostering collaboration between research organizations and the private sector, allowing innovations developed in one environment to be utilized and commercialized in another.

The process of technology transfer can encompass various activities, including licensing agreements where the technology owner grants rights to others to use the technology, patents that protect the technology, and collaborations that may involve sharing know-how. By facilitating the flow of technology, this process accelerates the development and dissemination of new products and services, which can lead to economic growth and enhanced competitiveness in the market.

Understanding this process is crucial in the startup environment where new technological solutions often require partnerships and agreements for effective commercialization.