Image 1: Canada shows net loss in tech transfer payments in 2009
After reading: Barrie McKenna, “Canadians are an inventive
lot, but seem to have trouble making it pay”, Globe and Mail, October, 3, 2011, News.
Registered patents can be a very rewarding thing. Patents, in accounting, are even considered a company asset. Usually leading companies can hold the patents they have in a specific field and make money selling or leasing them, or as a way to keep the, from Porter five forces, barrier of entry high. But it has not been the case for Canadians. Canadians are great inventors and has created many technology break through registering many patents in key technological fields, yet there is a net in tech [patents] transfer in 2009 (Image 1). Basically Canadians are not making money with patents that are important to pioneering developments such as canola oil. This show just by having the know-how is not enough. One must not only have the assets [patents] but also need good strategies and tactics in order to put the assets into good use and turn it into money.