The scale of research programmes within universities has created strong incentives to develop technology transfer offices as an efficient way to implement the third university mission of transferring academic discoveries to industry. This is due to universities playing a significant role within the National Systems of Innovation for knowledge generation and contribution to economic development. The technology transfer offices have been cited as a bridge for creation of links between academia, industry and government. Transfer of research ideas to industry is deemed crucial and is imperative to overcome challenges faced by universities as a result of diminishing financial state grants. A systems approach used in the study identified the technology transfer elements, characteristics and key positive and negative relationships. A framework for effective technology transfer within the South African context was developed with an objective to move the technology transfer system from anefficient to an effective mode as a desired technology transfer state.