Lecture, three hours. Designed for juniors/seniors. Introduction to transformation of new knowledge and inventions into viable commercial products and services, with particular emphasis on technology being developed at major research universities like UCLA. Initial emphasis on assessment and protection of intellectual property and early evaluation of technologies to determine potential for commercialization. How intellectual property in its various forms is protected and how rights to these assets are negotiated by parties involved. Examination of nature of contracts and negotiation between university technology transfer offices, researchers, technical experts, and early investors in commercialization space that might lead to patents, licenses, or new business development. Letter grading.