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The Mayo Clinic model of medicine is to integrate patient care with research and education, so that the practice of medicine is continually enriched with new ideas. With a staff of more than 2,500 physicians and scientists and an annual research budget exceeding $300 million, it is not surprising that Mayo Clinic is a rich source of new medical technology.
The Office of Intellectual Property serves as the bridge between these discoveries and the marketplace. Adaptability and creativity have allowed the office to license and commercialize hundreds of inventions, and at the same time develop a significant flow of income to support Mayo programs in education and research.
Since 1986 the office has signed more than 660 license agreements, filed more than 1350 patent applications and received over 300 patents for Mayo Clinic intellectual property.
Conventional licensing agreements form the foundation from which Mayo Clinic, as a not-for-profit organization, can contribute its expertise to individuals and institutions everywhere. Technology Based Ventures (TBV) allow Mayo to consider internal technologies as the basis for the formation of new medically related start-up companies. Mayo will invest its own funds in these companies when certain clearly defined criteria are met.
The office is staffed by fifteen managers with broad training in science, technology, business and law. These managers cultivate contacts with relevant industrial partners in medical science and health-related fields as well as potential investment partners for start-up ventures. They obtain expert outside opinions on whether a Mayo invention can be patented and effectively pursued in the marketplace.
The office's success comes from responding to potential business relationships individually and uniquely, knowing that no single model of working with commercial organizations will always be effective.
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