Paper details:* Please note that this paper requires knowledge of Intellectual property and how to take a business idea into commercialization.

Please select and introduce some intellectual property. This can already be protected, or an idea, or potential IP that could derive from your research
Then discuss what product/process/service it could provide or contribute to, how this is new or an improvement over what is currently in the market, what need or problem it solves.
Then, who is commercializing the IP.
Finally apply the public/private goods matrix and discuss the value it could provide.
Please adhere to the 12 steps of commercializing the IP ( The Commercialization Tourbillon)
more information about the paper is uploaded.
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Task:
In this piece of assessment you introduce a piece of Intellectual Property (IP), what product or service it will produce or contribute to, how this is novel compared to the existing products or services in the market, what need/problem it solves, and who is developing/commercializing it. Following a description of your IP, you will evaluate it as a public or private good, following the matrix presented in class, and discuss the commercial or societal (or other) value it will provide. You need to think about and evaluate all possible options, not just the option that seems most obvious, and consider if these options could change over time.
The piece of IP you introduce here can come from anywhere: from your own research projects or research group, own experience or observations, or from your own idea/hunch. If you work in a pair you may combine your ideas/hunches. Students actively engaged in a research project or research lab are encouraged to introduce and evaluate some IP from their own projects. The piece of IP you introduce here will then be evaluated in your major project (Assignment 2), and so it must be the same piece of IP in both assignments.
The aim this piece of assessment is for you to start thinking about your IP and its value, and all of the possibilities for its commercialization. These possibilities will then be analysed and evaluated in your major assignment. Both of these tasks (IP identification/description and public/private good and value discussion) need to clearly link to one another in a logical way. E.g. the value your IP could provide should be evident from the need/problem it solves, and the value should be in line with the type of good it is). You will combine what you have covered in the Introduction, IP Law, IP Management, and IP Commercialization lectures.
The secondary aim of this piece of assessment is for the lecturer to provide feedback on both the clarity of your IP discussion and the breadth of your evaluation and options of the IP for commercialization.