Technology transfer includes not only a physical process for receiving equipment, but also the knowledge contained in hardware and software. Due to the rapid globalization and the need for companies and countries to compete closely in the global market, new and superior technologies have been proposed as a competitive advantage to join the global market. Accordingly, the transfer of new and superior technology is considered as one of the ways to maintain competitive advantage.
Transfer of technology involves several stages, including the following:
Step 1 – Preliminary studies and contract implementation:
- Correspondence and contact with technology owners;
- Selection of technology transmitter;
- Negotiation and bargaining to obtain the best possible conditions;
- Preparation of a draft contract;
Step 2 – Adaptation of technology to internal conditions:
Step 3 – Creating technology:
Passing from previous steps, the technology recipient will acquire the required capabilities to create a national technology.