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How can the factors affecting the technology transfer fee in the public sector be found in practice? This study is, to the best of our knowledge, the first to empirically test the simultaneous relationship between technological and contractual factors and the technology transfer fee. Through using a large sample of data, from the dominant public energy research organisation in Korea, our findings reveal the tendencies of technology transfer players in public to private transactions. Furthermore, we show that for technological factors, the number of patents and research fund positively affect the technology transfer fee; and for contractual factors, exclusivity has a positive and SME licensee has a negative relationship. These findings contribute to the technology transfer literature by allowing policy-makers of public and private sectors to understand that large scale investment on selected technology, appropriate patents management and cost-effective technology transfer strategy development should all be considered for greater economic return. [ABSTRACT FROM AUTHOR]