Technology transfer at US universities: seeking public benefit from the results of basic research

Abstract

The development of technology transfer programs at universities throughout the US was catalyzed by the passage of the Bayh–Dole Act in 1980. This landmark legislation allowed universities to own and manage all inventions developed by their employees with federal funding. An effective technology transfer program requires: productive and innovative researchers; clear, supportive policies; knowledgeable professional staff; and adequate funding for operating expenses and for patenting inventions. When all four components are in place, technology transfer can enhance the university’s ability to interact with industry and can make a significant contribution to economic development at the local, state and national level.