Technology assessment involves systematically gathering and weighing a wide variety of information in order to identify commercially viable opportunities. Small entrepreneurial companies and universities generate much of the new technology. A process often followed by large companies to find and evaluate new technologies is described with the aim of facilitating interactions between the holders of new technology and large companies. Technology assessment generally follows the steps of obtaining new leads, screening leads, evaluating preliminary technology, performing due diligence, and negotiating a deal. The importance of a clear business strategy and proper consideration of intellectual property are emphasized.