Invention

The Office of Innovation & Economic Development manages all intellectual property generated by Baylor University with the goal of positively impacting society and furthering the Baylor mission through the commercialization of technologies. This is achieved through the technology transfer process that starts with Baylor inventors and their research efforts. Baylor inventors are those faculty, students, and staff who develop an invention, discovery, advancement, or innovation that they feel may address a larger societal issue or have commercial potential. The Office of Innovation & Economic Development works with Baylor inventors throughout the technology transfer process to protect, market, and commercialize their inventions. By participating in this process, inventors advance the transfer of scientific achievements to broader society and promote a competitive economy of innovation. Inventors can also increase funding for their research and department, create student research opportunities, and receive external financial awards by engaging in the technology transfer process through the Office of Innovation & Economic Development.

Historical Context

Most Research 1 universities and many smaller institutions have similar technology transfer offices that assist inventors in commercializing their work. In the United States, university technology transfer was made possible by the 1980 Bayh-Dole Act. This act amended patent and trademark law by allowing universities and other non-profits to own, patent, and commercialize discoveries resulting from federally funded research. Prior to the Bayh-Dole Act, discoveries made using federal funding were the property of the federal government and were often left undeveloped. By allowing universities to retain the rights to discoveries, the Act decentralized the handling of discoveries from the federal government to universities and created an incentive for private industry to engage with federally funded research. Ultimately, the Act led to the development of the university technology transfer field and is reported to have led to substantial economic growth and job creation in the United States.