The award winners represent thousands of others who labor every day in our universities, federal laboratories and most importantly, the private sector, turning federally funded inventions into products which better the human condition.
It takes a lot of dedication, sacrifice, risk and private investment for commercialization to happen, and the award winners embody the spirit of those efforts in transforming federally-funded discoveries into real-world applications.
At the time, we hoped the legislation would allow American taxpayers and people throughout the world to have better lives through the commercialization of federally-funded discoveries, which is happening today.
The Bayh-Dole Act injected the authorities and incentives of patent ownership into the federal R&D system, crucial for turning government-funded inventions into useful products.
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