%0 Journal Article %J Technology Innovation Management Review %D 2014 %T University Spinoffs: What, Why, and How? %A Pinaki N. Pattnaik %A Satyendra C. Pandey %K stage model %K technology patents %K university spinoff %K university-industry linkage %X University spinoffs have remarkably strengthened the linkage between universities and industry. The number of technology patents and spinoffs coming out of university research has a significant impact on regional economic and social development. To further highlight the importance of university spinoffs, the aim of this article is to review available literature on university spinoffs and present a comprehensive overview of what university spinoffs are, why they are important, what makes them significant, and how they are or can be created. In addition to reviewing existing models of university spinoff creation, we also propose a new, multi-stage, holistic model. %B Technology Innovation Management Review %I Talent First Network %C Ottawa %V 4 %P 44-50 %8 12/2014 %G eng %U http://timreview.ca/article/857 %N 12 %1 Nalsar University of Law Pinaki Nandan Pattnaik is Head of the Centre for Management Studies at Nalsar University of Law in Hyderabad, India. He holds a PhD from National Law University in Odisha, India, and he holds two MBA degrees: one from University of Saskatchewan in Saskatoon, Canada, and the other from Maastricht School of Management in the Netherlands. His research interests are in the area of understanding the impact of law in the success and failure of university spinoffs in particular and businesses in general. He also has a keen interest in the area of intellectual property law, its efficiency and impact on businesses, and the spirit of entrepreneurship. %2 Nalsar University of Law Satyendra C. Pandey is Assistant Professor at the Centre for Management Studies at Nalsar University of Law in Hyderabad, India. He researches in the areas of knowledge management, organizational capabilities, and entrepreneurship in the contexts of emerging economies. He holds an MBA from Xavier Institute of Management in Jabalpur, India, and he is in the final stages of his PhD in Human Resource Management from Xavier Institute of Management in Bhubaneswar, India. %R http://doi.org/10.22215/timreview/857