Innovation and Technology Transfer for Business Development

This paper presents a model of approaching the managing the innovation process in case of small and medium-sized companies. The process of development by means of innovation is analysed from two perspectives, namely: from the perspective of companies that apply the innovations and from the perspective of universities as suppliers of technologies and knowledge. Some aspects specific for the management of innovation are given in the first part while the second part contains some aspects referring to the university technological transfer and are presented the main types of legal agreements for the technological transfer.