Commercialization

Commercialization refers to the attempt to profit from innovation through the sale or use of new products, processes, and services. The term is usually used with regard to a specific technology (e.g., “commercializing high-temperature superconductivity”) to denote the process of incorporating the technology into a particular product, process, or service to be offered in the marketplace The term commercialization therefore emphasizes such activities as product/process development, manufacturing, and marketing, as well as the research that supports them, More than invention or innovation, commercialization is driven by firms’ expectations that they can gain a competitive advantage in the marketplace for a particular product, process, or service.