How about some good economic news? That’s in short supply these days as the nation teeters on the brink of recession, driven by raging inflation and skyrocketing gas prices. But in good times and bad, our technology transfer system created by the Bayh-Dole Act just keeps chugging along. A just released study by the Biotechnology Innovation Organization (BIO) and AUTM, which represents the academic technology management profession, shows that academic patent licensing contributed up to $1.9 trillion to the U.S. economy while supporting 6.5 million jobs between 1996 – 2020. Even more impressively, this impact increased substantially since the last survey was released three years ago. That showed an economic impact of $1.7 trillion with 5.9 million jobs supported.
Recent Posts
- Thoughts on the USPTO’s NPRM: Not Bad But the Big Challenges Remain
- Patent Filings Roundup: Slow Week in PTAB and District Court, Ideahub Subsidiary Challenges Instituted; Patent Armory Continues the Offensive
- Timberland Loses Fourth Circuit Bid to Protect Trade Dress for Iconic Boots
- USPTO Proposes Making Director Review Process Official
- Evolving IP: The Innovation Crossroads