The Bayh-Dole Act of 1980: A Catalyst for Innovation and Technology Transfer

Summary:

The Bayh-Dole Act, enacted on December 12, 1980, has revolutionized the landscape of academic research and commercialization in the United States. The Act allows universities and non-profit institutions to retain intellectual property rights to federally funded research, with the objectives of accelerating the transition of scientific discoveries to the marketplace and promoting innovation and economic growth. Key provisions include the retention of patent and invention rights, licensing and commercialization of inventions, and government use licenses. Overall, the Bayh-Dole Act has been instrumental in fostering partnerships between academia and the commercial sector, driving innovation and economic development.