Many people file applications to protect their intellectual property without properly considering why they are seeking protection.
Before any protection is sought, it is necessary to first consider how value will be extracted from the technology, product or process. Value may be extracted through the ability of the IP to generate income and/or its ability to deliver strategic advantages.
Only once due consideration has been given to the value extraction method for the innovation can good decisions be made about how and where to protect it.
Once the protection has been obtained, then the issue of value extraction must be revisited.
Commercialisation is one value extraction method, or perhaps more accurately, once group of methods relating to income generation. Licensing is one method within that group.
Which method of commercialisation is appropriate will depend upon the corporate and business strategies of the organisation.
Commercialisation process in general
Need for strategic alignment
Direct investment (doing it yourself)
Considerations in licensing