The bayh dole act 80 federally funded innovations can

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Unformatted text preview: rial complex: Since 1890s, academics pursued patents in order to capitalize on their inventions. The Bayh-Dole Act (’ 80): federally funded innovations can be patented Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro History Patents IP Government funding The federal government provides funds for - military purposes e.g. search for better war machines (Manhattan Project in WWII) The Defense Advanced Research Projects Agency has o¤ered $1 million prize to elicit a fortyfold improvement in robotic vehicles for rough terrain (2003). - space exploration - pure science e.g. the human genome project - industry objectives, etc Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro History Patents IP Issues to be considered Incentive mechanisms Research in pure science vs discoveries with commercial value Intellectual property vs protection of competition Rewards: ex-ante: grants ex-post: patents, prizes Policy implications e.g. R&D subsidies; "regulatory pull": setting commodity standards that can only be met with some new innovation Lecture 2:...
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