In the late 1970s, universities convinced lawmakers that if they could monetize discoveries made with taxpayer funding, they would need less taxpayer funding and better help the private sector.
Congress agreed and in 1980, the Bayh-Dole Technology Transfer Act was passed. The law made it much easier for research findings made by academics to be patented and commercialized, or licensed by companies.
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To read the full, original article click on this link: Bayh-Dole Technology Transfer Act - Universities Love It, But It Needs To Change
