Product Development and Commercialization

Product development includes not only the creation and launch of new products but also modification or updates to existing products and initiatives to introduce changes to the overall development program including quality improvements, reduction of time to market, enhanced collaboration with suppliers, plant modernization and technology updates.  Regardless of the focus the goal of the product development process should be to find new and innovative ways to meet customer needs that are not currently being served by the company.  Successful product development is essential for launching a company and for ensuring that the company continues to survive and prosper as competitive conditions and customer requirements change over time, and while a good deal of product development efforts focus on building the company’s existing product line they can also be used to vault the company into an entirely new set of activities, markets and/or industries.  In many industries product development is a core competency that must be acquired and nurtured in order for a company to remain in business and companies have come to realize that they must commit a substantial amount of their investible R&D funds to new product development.  No one academic or organizational discipline can claim complete ownership of product innovation and it has attracted the interest of researchers whose primary focus includes economics, engineering, manufacturing, marketing, operations research and organizational behavior.


Business Transactions Solution on Thomson Reuters Westlaw contains a transaction-based practice system for the life cycle of a business entity. Each transaction structures itself around a module design, including transaction summary, memorandum analysis, master forms needed to execute the transaction, commentary analyzing every clause or provision of the form, drafting and review checklists, and specialty forms. The unlimited-use subscription provides regular updates, including new master forms, commentary, checklists, and specialty forms.

Legal Compliance Checkups: Business Clients.  The questionnaire format of this multivolume work shows how to elicit answers, make a diagnosis, and recommend an efficient, safe course of action for your business clients. Each chapter provides business guidance in specific business activities, including forming contracts; buying and selling a business; franchising; operating in the global marketplace; counseling on insurance, pension, securities, and product liability issues; borrowing money; contracting with the government; and resolving patent, copyright, and trademark-related problems and issues. Topics include business organization, estate planning, labor relations, real estate, securities, patents, computer software, advertising warranties, environmental law, and transportation and distribution.  Features include showing how to assess the “legal health” of your clients and suggestions on how to apply the right remedies to legal pitfalls in your clients’ activities.

Product Development



Sales and Distribution

Product Service and Support Agreements

Marketing and Advertising


ADDITIONAL RESOURCES (POWERED BY SUSTAINABLE ENTREPRENEURSHIP PROJECT) The Sustainable Entrepreneurship Project engages in and promotes research, education and training activities relating to entrepreneurial ventures launched with the aspiration to create sustainable enterprises that achieve significant growth in scale and value creation through the development and commercialization of innovative products or services which form the basis for a successful international business.  The Project is also involved in collecting, analyzing and disseminating information about regional and national efforts around the world to support and expand sustainable entrepreneurship.  The Project has launched of its own portfolio of timely and practical information in the form of comprehensive libraries for sustainable entrepreneurs.  Libraries that are particularly relevant to product development and commercialization include the following:


West Legal Ed Center Click for list of all programs presented by the Institute on West Legal Ed Center.  Programs relating to product development and commercialization include several videos prepared for the Beyond the Bar training initiative and the following webinars (available on demand):

Business Counselor Institute on West Legal Ed Center

  • Supply Chain Management (11.2014)

Beyond the Bar Training Programs

  • Product Development
  • Counseling the Research and Development Function
  • Counseling the Purchasing Function
  • Counseling the Manufacturing Function
  • Counseling the Sales and Distribution Function


Product Development and Commercialization Articles from Business Counselor Institute

Product Development and Commercialization Articles from Sustainable Entrepreneurship Project