Bayh-Dole Act

The Bayh-Dole Act is a United States federal law that was enacted in 1980. The act was named after its sponsors, Senators Birch Bayh and Bob Dole, and it is officially known as the Patent and Trademark Law Amendments Act. The purpose of the Bayh-Dole Act was to encourage the commercialization of federally funded research by allowing universities, small businesses, and non-profit organizations to retain ownership of intellectual property rights that resulted from federally funded research.

Under the Bayh-Dole Act, universities, small businesses, and non-profit organizations that receive federal funding for research are given the right to own and manage any intellectual property that is created as a result of that research. This includes the right to apply for patents, licenses, and other forms of intellectual property protection. The act also requires that these organizations take steps to ensure that any intellectual property that results from federally funded research is utilized for the public benefit.

The Bayh-Dole Act has been credited with spurring innovation and promoting economic growth by allowing universities and other organizations to commercialize their research and bring new products and technologies to the marketplace. It has also been criticized by some who argue that it has led to the privatization of research and resulted in higher costs for consumers.