Orthopaedic Innovation: From Inspiration to the OR (2021 Annual Meeting)-Orthopaedic Innovation: From Inspiration to the OR-Thal

Video Transcription

Video Summary

In this video, the speaker discusses the process of developing ideas and licensing patents in the medical field. Surgeons play a significant role in innovation due to their understanding of operating room needs. Innovation can occur in various areas, including implants, instrumentation, biologics, and software. The speaker emphasizes the importance of being perceptive and thinking outside the box. They also share their experience in developing a knotless suture anchor through adaptations of old ideas. The speaker highlights the need for persistence and patience, as failure is part of the process. They discuss key steps in idea development and different types of ideas. Collaboration and understanding market need are critical to success. The speaker explores options for commercialization, including starting a company, selling, or licensing the patent. Challenges in licensing include finding the right corporate partner, patent protection, and effectively communicating the idea's benefits. The speaker also discusses different types of licenses and important considerations while negotiating a license agreement. Overall, the video provides an overview of idea development and patent licensing processes in the medical field.

Asset Caption

Dr. Raymond Thal

Keywords

medical field

idea development

licensing patents

surgeons

innovation