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Commercialisation is the process of introducing a new product or service into the market. It means making a concept or idea into a real business opportunity.
For example, a person has a new business idea for a new tool to help tradies. To go through the commercialisation process he/she needs to undergo a process of market research and consultation, development, prototyping, drawing up business, marketing and distribution plans, and protect his/her intellectual property before it becomes commercially available in the mass market for sale.
