With so much riding on our country’s ability to turn new ideas into economic progress and job creation for the next generation, it was wise for the National Research Council of the National Academies to review the performance of an important piece of legislation that is hitting its 30th anniversary: The Bayh-Dole Act of 1980. This important law gave universities ownership over intellectual property arising from federally funded research at their institutions. Although it may seem obscure to the uninitiated, the legislation has since helped spark thousands of new products and new ventures over the last three decades.
In its new report, “Managing University Intellectual Property in the Public Interest,” NRC concludes that Bayh-Dole indeed works as advertised, helping to translate research advances for the public interest. It also concludes that significant room for improvement remains, and through its 128-page report the council proposes useful and concrete suggestions for universities to more effectively apply their research for the public good.
To read the full, original article click on this link: Moving Ideas from University to Market Place
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