Technology transfer can be defined as a broad set of processes covering the flows of know-how, experience and equipment for mitigating and adapting to change amongst different stakeholders, such as governments, private sector entities, financial institutions, nongovernmental organizations and research/education institutions. It covers technology transfer processes among developed countries, developing countries and countries with economies in transition. It involves learning to understand, utilise and replicate the technology, including the capacity to choose and adapt to local conditions and integrate it with indigenous technologies.