The Bayh-Dole Act
The Bayh-Dole Act, adopted in 1980, was established to promote economic development by allowing small businesses and non-profit institutions such as universities the right to own inventions created through federally-funded research. Universities are able to do the following under the act:
- Hold responsibility for management of invention in compliance with terms of the Bayh-Dole Act.
- File for patent protection on inventions the University elects to obtain ownership.
- Collaborate with external entities and commercial partners to license technology.