Explain Technology Transfer Model. Also, explain the various elements of technology transfer process.

Technology transfer is a crucial aspect of the management of research and development (R&D) and innovation, as it plays a vital role in converting scientific knowledge and discoveries into practical applications and commercial products. The technology transfer model is a structured approach that facilitates the movement of intellectual property, knowledge, and innovations from one organization or context to another. This process helps bridge the gap between academia, government research institutions, and industry, enabling the broader utilization of research findings and fostering innovation. The technology transfer model typically consists of several key elements, each of which is critical for successful knowledge and technology transfer:

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