Abstract
Translation of research and innovation from universities or academic institutions to market for societal benefits demand substantial and persistent efforts. This could be achieved through various means and one of the most preferred method of translating university research into commercially viable product is through technology transfer or technology licensing. This urges on establishing technology transfer offices in universities/academia comprising a group of experts from various fields focusing on protecting and commercializing inventions disclosed by faculty members, students or other stakeholders of the organization. This paper discusses various successful strategies and technology transfer models between industry and academia in developed nations as well as a few important success factors. It also provides an insight on evolution of technology transfer practices (governing Acts and legislation) and current status of technology transfer in India.
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