60119 Science Business Models and Intellectual Property

Description

The world of business might seem miles apart from the world of science but in many scientific roles understanding of business principles and how to apply them to scientific problems are important professional skills. Creating a business model is essentially a way of breaking down your idea, project, or situation and thinking about the best way forward to maximise output.

This subject covers the basics of business principles and science business models as well as covering in detail the nine concepts of a business model, grounded in a scientific context with the use of case studies and real-life examples. As part of these concepts, students are introduced to intellectual property in the scientific research landscape. Students learn the first principles of identifying, protecting, and commercialising intellectual property, and to differentiate between different types of intellectual property including patents, trademarks, and licencing. Here students explore the processes and steps taken to commercialise research findings and apply this knowledge to protect, manage and capitalise on the intellectual property identified in case studies and examples. As part of this subject students create a business model for a chosen project/idea. The subject then concludes with an understanding of the importance of clear and concise communication of the business model to target audiences, in this case some potential investors.