Technology and Information - Technology and Information 1...

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Technology and Information 1 Technology and Information Warren Synecky Introduction to Business / BUSN105-57 April 24 th , 2010
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Technology and Information 2 Abstract I have chosen to license existing technology to use in my product. This decision was made with mostly cost savings in mind, but many other factors came into play. Each option had some very distinct advantages and disadvantages and I felt that the pros outweighed the cons for licensing existing technology.
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Technology and Information 3 Licensing existing technology is a hard decision to make, especially for an inventor. Using an existing product, when I could develop the same product myself was a hard step to take. However after researching the advantages of licensing an existing product I have chosen to go this route. According to Valdez (2004), a company can save 1/3 of its investment by licensing existing technology rather than developing it themselves. For a person in my position, with limited capital, this would represent a huge savings. It would free up money to allocate towards other areas such as future development, hiring of employees, manufacturing costs to name a few. This reason is the driving force behind my decision to license existing technology.
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This note was uploaded on 04/02/2011 for the course BUSN 105 taught by Professor Markw.preising during the Fall '10 term at American InterContinental University.

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Technology and Information - Technology and Information 1...

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