Explain the different modes of technology transfer giving examples.

Technology transfer refers to the process of sharing or moving technology, knowledge, skills, or manufacturing methods from one organization, country, or sector to another. This transfer helps to develop new products, improve processes, or boost innovation capabilities. In the field of technology management, understanding the different modes of technology transfer is crucial for successfully applying and managing technology in organizations. There are several common modes of technology transfer, each with unique characteristics and examples:

1. Licensing
   Licensing is one of the most common modes of technology transfer, where the owner of a technology (licensor) grants permission to another party (licensee) to use, produce, or sell the technology under agreed conditions. The licensee typically pays fees or royalties to the licensor. Licensing allows rapid diffusion of technology without the need for heavy investment by the licensee in research and development. For example, a pharmaceutical company might license a patented drug formula to a local manufacturer in another country, allowing the drug to ________ ______ _______ _________ ______ _____ ____ ________.
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