Bayh-Dole Act Regulations

The Bayh-Dole Act regulations govern how universities and small businesses handle inventions developed with federally funded research. Essentially, they allow these institutions to take ownership of inventions made with government money, but they must promptly disclose, patent, and commercially develop them. The law aims to promote innovation by ensuring that new inventions lead to practical applications and benefits, while also protecting public rights. Institutions are required to share progress reports and ensure that inventions are accessible, balancing private development with public interest.