Massachusetts General Laws ch. 40G sec. 12 – Massachusetts Technology Transfer Center
Section 12. (a) There shall be within the corporation, and subject to the board’s oversight and control, a Massachusetts Technology Transfer Center to facilitate the transfer of technology from the commonwealth’s research institutions to the commonwealth’s industries, for productive use by such industries. The center shall provide advice and assistance to public and private research institutions on strategies for technology transfer including, but not limited to, advice and assistance in the following areas: (i) assessing the viability and value of developing technologies; (ii) defining and exploiting potential markets for such technologies; (iii) commercialization strategies; (iv) intellectual property issues, including licensing strategies; and (v) business development. The center shall be governed by the board and subject to the board’s oversight and control. The president of the corporation may hire such staff as may be necessary to accomplish purposes of the center.
Terms Used In Massachusetts General Laws ch. 40G sec. 12
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Oversight: Committee review of the activities of a Federal agency or program.
(b) The corporation shall report annually to the Massachusetts office of business development on the number of technology transfer transactions or projects that have been consummated with the assistance of the center, the names and geographic locations of the recipient industries and the estimated number of new jobs created as a result of such transactions or projects.