For some time now, universities and educational institutions have spearheaded the effort when it comes to developing cutting edge technologies and embraced their role of innovating in order to address the needs of the general public. It is an incontrovertible fact that university research has had tremendous impact on new technologies brought to the market, serving as a catalytic to commercialize these discoveries so that industry might implement them in everyday products and services that make our lives easier. The Bayh-Dole Act, signed into law in 1980, has often been recognized as one of the most important pieces of legislation of our times, giving U.S. universities the right to commercialize the discoveries made with federal funding.
