The Bayh-Dole Act

The Bayh-Dole Act, enacted in 1980 in the United States, allows universities, small businesses, and non-profit organizations to retain intellectual property rights to inventions developed with federal funding. This means that if research funded by the government leads to new inventions or technologies, the institution can patent and commercialize them. The goal of the Act is to encourage innovation and collaboration between academia and industry, ultimately promoting the development of new products and services that can benefit the public and stimulate economic growth.