what is the main function of the bayh-dole act of 1980 as it relates to academic institutions?

The main function of the Bayh-Dole Act of 1980 as it relates to academic institutions is to allow universities and other non-profit organizations to retain ownership of inventions and patents that arise from federally funded research. This law shifted patent rights from the federal government to the academic institutions conducting the research, enabling them to patent, license, and commercialize these inventions. This ownership incentivizes universities to actively participate in the commercialization process, fostering collaboration with industry and accelerating the transfer of technology from the lab to the marketplace. In return, universities are required to disclose inventions, file for patents, and promote commercialization, while the government retains a non-exclusive license to use the inventions. The Act has significantly increased university-driven innovation and technology transfer, helping to transform federally funded research into practical products and economic growth