Technology Transfer Act

The Technology Transfer Act is a law that facilitates the sharing and commercialization of technologies developed through federal research, particularly in universities and federal laboratories. Its main goal is to promote innovation by allowing researchers to transfer their discoveries to the private sector, enhancing economic growth. The Act allows institutions to patent inventions and license them to businesses, ensuring that new technologies benefit society while also providing financial support for further research. Essentially, it bridges the gap between public research and commercial application, fostering collaboration and development in various fields.